Jan 13, 2025 - Business
Moderna dramatically lowers sales forecast on weakening COVID vaccine demand
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Moderna shares plunged today to lows not seen since the early weeks of the pandemic after the company dramatically lowered its sales forecast.
Zoom in: Waning demand for COVID vaccines is crushing Moderna's revenue.
- Four months after projecting 2025 revenue of $2.5 billion–$3.5 billion, the company reduced that outlook to $1.5 billion–$2.5 billion.
- The company's 2024 product sales totaled about $3 billion–$3.1 billion, almost all of it from its COVID vaccine.
What we're watching: Moderna is hoping to get a boost from new products, with a goal of landing up to 10 product approvals over the next three years.
- One of them is a combined flu-COVID vaccine for people 50 and older.
