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Moderna hikes 2021 COVID-19 vaccine sales forecast to $19.2 bn

Moderna hikes 2021 COVID-19 vaccine sales forecast to $19.2 bn

Moderna had in February forecast vaccine sales of $18.4 billion. Earlier this week, larger rival Pfizer Inc said it expects $26 billion in sales of its COVID-19 vaccine this year

In the first quarter ended March 31, Moderna's vaccine brought in sales of $1.7 billion In the first quarter ended March 31, Moderna's vaccine brought in sales of $1.7 billion

Moderna Inc raised its 2021 sales forecast for its COVID-19 vaccine by 4.3% to $19.2 billion on Thursday, reflecting demand from countries looking to return to normalcy through rapid inoculation.

Earlier this week, larger rival Pfizer Inc said it expects $26 billion in sales of its COVID-19 vaccine this year.

Moderna had in February forecast vaccine sales of $18.4 billion.

Since then, wealthy nations have been stocking up shots from Moderna and Pfizer Inc/BioNTech SE after safety concerns and production problems temporarily sidelined AstraZeneca Plc and Johnson & Johnson vaccines.

In the first quarter ended March 31, Moderna's vaccine brought in sales of $1.7 billion.

The company said it plans to file for full approval of the vaccine in the United States this month.

Also read: Pfizer share falls over 3% after US agrees to support patent waivers on Covid vaccines