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Moderna expects to deliver far fewer COVID-19 vaccine doses this year. Photo: Jay L. Clendenin / Los Angeles Times via Getty Images

Moderna lowered the expected number of its COVID-19 vaccine doses that will be delivered this year, from a previous high of 1 billion doses down to 800 million.

Driving the news: Exporting vaccines outside of the U.S. to more countries took longer than expected, and is the primary reason behind the reduced shipments, CEO Stéphane Bancel said on an earnings call Thursday.

By the numbers: Moderna delivered 510 million COVID-19 vaccine doses worldwide in the first nine months of this year, resulting in $10.7 billion in sales.

  • That's about $21/dose, compared with about $15.65/dose for the Pfizer-BioNTech vaccine.
  • Moderna's COVID-19 vaccine revenue is now projected to be between $15 billion and $18 billion, down from a forecast of $20 billion.
  • Profit in the first nine months of the year totaled $7.3 billion, putting Moderna's net margin around 65%.
  • Moderna's profit will be even larger by the end of the year because the company disclosed it will claim a $2.3 billion tax break from losses incurred in previous years — a provision that was tucked inside the federal coronavirus stimulus in early 2020.

Between the lines: Moderna has shipped 90% of its vaccines to wealthier countries, but Bancel said poorer countries would start receiving more.

  • The Biden administration has warned Moderna to "step up" its supply to meet global demand and erase the unequal distribution.

Go deeper

Biden: Fight against Omicron won't include "shutdowns or lockdowns"

Photo: Mandel Ngan/AFP via Getty Images

President Biden on Monday said that the new coronavirus variant, Omicron, is "a cause for concern, not a cause for panic."

Driving the news: Biden said later this week the administration will be releasing a strategy on how "we're going to fight COVID this winter. Not with shutdowns or lockdowns, but with more widespread vaccinations, boosters, testing and more."

14 hours ago - Health

CDC strengthens COVID booster recommendation

Rochelle Walensky. Photo: Chip Somodevilla/Getty Images

The Centers for Disease Control and Prevention (CDC) on Monday strengthened its previous recommendation for booster shots, saying that everyone 18 and older "should" receive a booster dose.

Why it matters: Last month, CDC director Rochelle Walensky accepted a key advisory committee's recommendation that adults "may" get the shot. The slight, but strengthened, change in wording comes amid the emergence of the Omicron coronavirus variant.

Updated 19 hours ago - Politics & Policy

Omicron dashboard

Illustration: Aïda Amer/Axios

  1. Health: WHO says Omicron poses "very high" risk — Fauci says Omicron variant will "inevitably" be found in U.S. — U.S. restricts air travel from 8 countries over Omicron concerns.
  2. Politics: Biden says fight against Omicron won't include "shutdowns or lockdowns."
  3. States: New York declares state of emergency amid concerns over Omicron.
  4. World: Omicron adds urgency to vaccinating worldWHO warns against travel bans on southern African countries — First North American Omicron cases identified in Canada.
  5. Variant tracker: Where different strains are spreading.

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