In this illustration taken on November 27, 2021, a syringe with a needle can be seen in front of the displayed Moderna logo.Reuters/Dado Ruvic/Illustration/File photo Obtaining license rights
Nov 1 (Reuters) – Moderna (MRNA.O) needs to tap only a small portion of the private market with its coronavirus vaccine to meet its sales targets this year, industry analysts say. It should reach that lower limit. .
About 20 million people will need to be vaccinated against Moderna’s coronavirus vaccine to reach $2 billion in private market sales in 2023, four analysts say Reuters told.
The company said it expects total U.S. coronavirus vaccine demand for the fall season to reach 100 million doses.
Moderna projects sales of its coronavirus vaccine in 2023 to be between $6 billion and $8 billion, of which $2 billion to $4 billion will come from the commercial market. The remainder will come from previously signed government contracts.
Pfizer’s (PFE.N) outlook was thrown into doubt last month when it lowered its full-year COVID-19 sales forecast by about $2 billion, citing lower-than-expected vaccination rates.
Moderna’s stock price has fallen about 22% since the warning from a major rival.
“Moderna is unlikely to go negative like Pfizer because Moderna started out more conservatively,” said Oppenheimer & Company analyst Hartaj Singh. .
Citing recent data, Jefferies analyst Michael Yee said the rollout of the new round was initially slow but appears to be picking up. Yi expects most of the demand will come from people 65 and older.
Moderna announced Thursday, two days after Pfizer posted its first quarterly loss since 2019 due to a huge bill for the U.S. government’s return of millions of doses of its COVID-19 drug paxlobid and its inventory. announced its third quarter financial results. New coronavirus vaccine community.
The coronavirus vaccine is the only commercially available product from Cambridge, Mass.-based Moderna.
The company’s research and development (R&D) expenses rose 62% to $1.1 billion in the second quarter as it aims to bring other products to market, including an influenza vaccine and a vaccine against respiratory syncytial virus (RSV).
The RSV vaccine, which the company is aiming to launch in the United States in 2024, was found to be 82.4% effective in elderly people with three or more symptoms in late-stage trials. It will compete with the recently approved vaccines from Pfizer and GSK (GSK.L).
Data from a late-stage study of Moderna’s influenza vaccine using its latest formulation, announced in September, shows stronger immune responses against all four A and B strains of the influenza virus compared to traditional influenza vaccines. was shown to generate.
Moderna’s broader mRNA-based respiratory pipeline, which includes respiratory syncytial virus and influenza vaccines, is expected to generate $10 billion to $12 billion in sales, which will reduce expenses by 2025. , Yi said, will provide stability in research and development.
Reporting by Manas Mishra and Khushi Mandwala in Bangalore and Patrick Wingrove in New York.Editing: Bill Berkrot
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