Moderna Appoints New Chief Marketing Officer Amid Strategic Shift

Moderna, the mRNA specialist known for its COVID-19 vaccine Spikevax, has announced the appointment of Amy Mahery as its new Chief Marketing Officer. This strategic move comes as the company recalibrates its commercial approach in response to lower-than-expected sales and a changing market landscape.

Executive Appointment and Industry Experience

Amy Mahery joins Moderna with an impressive background in pharmaceutical marketing and commercial leadership. Most recently serving as Chief Commercial Officer at Roivant Sciences, Mahery brings nearly two decades of experience from EMD Serono, the U.S. pharmaceutical subsidiary of Merck KGaA. Her tenure at EMD Serono included leadership roles in marketing for cancer drug Bavencio and as global business head of the neurology and immunology franchise.

In a LinkedIn post, Mahery expressed her enthusiasm for joining Moderna, citing the company's "relentless focus on innovation" and its mission to transform medicine through mRNA technology. She emphasized her commitment to expanding global access, shaping the pipeline, and bringing new solutions to patients.

Moderna's Commercial Strategy Adjustment

Mahery's appointment comes at a critical juncture for Moderna. The company has recently outlined a more cautious approach to its commercial strategy, as detailed in CEO Stephane Bancel's letter to shareholders. This new direction includes:

• A "more selective and paced approach" to product rollouts
• A target of 10 new approvals over the next three years
• Shelving of certain program advancements until the company is better prepared for effective global launches

This strategic shift is a response to challenging market conditions, including a significant drop in COVID-19 vaccine sales and a tough launch trajectory for its respiratory syncytial virus (RSV) vaccine, mRESVIA.

Financial Outlook and Cost-Cutting Measures

Moderna's revised commercial strategy is accompanied by substantial financial adjustments:

• Projected sales for 2025 have been downgraded to between $1.5 billion and $2.5 billion, a significant decrease from previous forecasts
• The company plans to cut $1 billion from its expenses in 2025, with an additional $500 million reduction slated for 2026
• Full-year 2024 results, expected to be announced soon, are anticipated to show sales between $3 billion and $3.1 billion

These financial measures reflect the company's efforts to adapt to a post-pandemic market where demand for COVID-19 products has waned considerably.

As Moderna navigates these challenges, Amy Mahery's role will be crucial in revitalizing the company's marketing efforts and potentially boosting sales of both existing products and future pipeline developments. Her experience in bridging commercial strategy with R&D could prove valuable as Moderna seeks to maintain its position at the forefront of mRNA technology and expand its product portfolio beyond COVID-19 vaccines.