This news comes as demand for the vaccine has steeply declined over the past year while the companies have made billions of dollars from the product.
Moderna and Pfizer to Offer New Variant-Matched Vaccine Boosters
Moderna and Pfizer have announced plans to offer new variant-matched vaccine boosters this fall. This move comes as the companies anticipate a shift to an endemic phase of the COVID-19 pandemic and plan to focus their booster campaigns on people at high risk for severe COVID-19 infections.
Moderna Anticipates Generating $5 Billion in COVID-19 Vaccine Revenue in 2023
Moderna CEO Stéphane Bancel has announced that the company anticipates generating at least $5 billion in COVID-19 vaccine revenue in 2023, as the pandemic is expected to remain a "serious health issue" for "the next multiple years." Despite analysts projecting that Moderna's 2023 revenues could total $5 billion, which would be about $13 billion less than 2022 levels.
Daniel stated that the $5 billion figure relates only to contracts for COVID-19 vaccines in countries such as the U.K. and Canada and "assumes no sales in the U.S."