From CNBC:

Moderna reported a significant drop in Covid vaccine sales in 2023, with revenue falling to $6.7 billion from over $18 billion in 2022. The decline reflects decreased demand for the jab as Covid cases and public concern dwindled. The company expects sales to drop further in 2024, but sees growth potential with new products launching in 2025.

Sales from Moderna’s Covid vaccine amounted to approximately $6.1 billion, while an additional $600 million was deferred revenue related to its partnership with global vaccine organization Gavi. The company noted that its vaccine captured 48% of the U.S. Covid vaccine market share in 2023, up from 37% in 2022.

Despite the significant decline in Covid vaccine sales, Moderna met its forecasted revenue for the year. However, sales of its only commercially available product are expected to drop even further in 2024. The company expects to see sales growth in 2025 with the launch of new products, and has 45 products in development, nine of which are in late-stage trials.

Moderna’s announcement came ahead of its presentation at the annual JPMorgan Healthcare Conference, where it revealed the sharp decrease in demand for Covid products as pandemic peaks faded. The company’s stock fell nearly 45% last year due to weakening demand for its shot. However, it anticipates a return to sales growth in 2025 with the launch of new products, including a combination shot targeting Covid and the flu.

During its third-quarter earnings report in November, Moderna forecasted at least $6 billion in full-year Covid vaccine sales. However, the company did not provide a range for that guidance. It reiterated a companywide full-year sales guidance of roughly $4 billion for 2024, which includes revenue from its RSV vaccine, pending FDA approval in April.



Read more: Moderna Covid vaccine sales plunge in 2023, but meet company forecast