Moderna Hits Record Sales While Expecting Endemic Status for Covid in 2023

After taking in $18.5 billion in 2021 for their experimental vaccine, Moderna has announced they expect covid to become an endemic in 2023.

CEO Stephane Bancel expects to sell at least $19 billion worth of the vaccine this year. This figure doesn’t account for US sales, only already signed purchase agreements.

Bancel told CNBC on Thursday that the world may be moving out of the pandemic phase as the omicron wave subsides in the U.S. and around the world. However, Bancel said people will need booster shots in the fall, particularly individuals over 50 and those with underlying conditions.

Stephen Hoge, Moderna’s President, concurred,

“We believe that a seasonal booster will be necessary to prevent breakthrough diseases, including hospitalization in vulnerable populations. And we believe that the continued evolution of the virus is going to continue to put pressure on preexisting immunity, whether that’s naturally derived or vaccine provided.”

Hoge also stated that Moderna also expects to start a phase one trial of a combination flu and Covid vaccine in 2022.

Bancel admitted that the company feels they are undercharging for their product and will increase the price when it moves to an endemic status.

He said,

“We think the price does not reflect the value of the vaccine from a pharmacoeconomic standpoint.”

Martin Shkreli likely thought the same when he adjusted the price of Daraprim from $17.50 to $750 in 2015.

Moderna’s bold endemic statement means it believes that it is a seasonal disease that can be managed with regular vaccines and treatments. It also means the company can further extort the cash cow for record-breaking profits.

Moderna’s fourth-quarter sales in 2020 were $571 million versus $7.2 billion for the same time period in 2021.

The company’s two-dose covid vaccine, Spikevax, is their only commercial product. It was fully approved for adults ages 18 and older in the last month by the Food and Drug Administration and the Centers for Disease Control and Prevention.

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