Home Finance Moderna Turns First Profit, Boosted by Its Covid-19 Vaccine

Moderna Turns First Profit, Boosted by Its Covid-19 Vaccine

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Moderna Turns First Profit, Boosted by Its Covid-19 Vaccine

< img src= "https://images.wsj.net/im-334549/social" class= "ff-og-image-inserted"/ > Moderna Inc.’s Covid-19 vaccine lifted the biotech company to its first-ever quarterly profit, a turning point in the rise of a company that burst into the spotlight last year as it quickly established a shot versus the coronavirus.

The vaccine brought Moderna revenue of $1.73 billion in the first quarter, showing 3 full months of its use in the U.S. and initial international sales, the company said Thursday.

Moderna likewise improved its full-year forecast of Covid-19 vaccine sales to $19.2 billion, based upon advance purchase agreements, from $18.4 billion it previously forecasted.

The forecast indicate a thriving market for Covid-19 vaccines, as Pfizer Inc. this week said the Covid-19 vaccine it makes with BioNTech SE might generate $26 billion in sales this year.

Yet the prospect of a momentary loss of vaccine patents clouded the brilliant performance and outlook.

Published at Thu, 06 May 2021 21:34:00 +0000

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