Moderna Surpasses COVID-19 Vaccine Sales Forecasts, Struggles with RSV Vaccine Launch Amid Strategic Adjustments
Moderna's Spikevax COVID-19 vaccine outperformed sales expectations in the third quarter of 2024, generating $1.8 billion in revenue[1][3]. Driven largely by U.S. sales, Moderna's financial results exceeded Wall Street's consensus estimate of $1.25 billion despite a declining market share from 45% to 40%[1][2]. This success is attributed to the FDA's swift approval of the updated vaccine as well as strategic cost management, resulting in a third-quarter profit of $13 million, compared to a substantial loss in the previous year[1].
References
Explore Further
What strategies is Moderna implementing to address the underperformance of its RSV vaccine sales?
How is Moderna planning to sustain the profitability of its COVID-19 vaccine in a contracting market?
What role will Stephen Hoge play in Moderna's efforts to navigate the competitive and regulatory challenges in the vaccine market?
How does Moderna's partnership with Merck on cancer treatments align with its overall strategic goals?
What impact will Moderna's cost-cutting measures and leadership changes have on its future pipeline of vaccines and treatments?