Moderna Highlights Near-Term Non-COVID Readouts As Pandemic Vaccine Sales Drop
The company attributed lower-than-expected vaccine sales to supply issues, but it expects some significant read-outs over the next few months in respiratory infections and oncology.
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While big tech is suffering from a return to normality after the pandemic, big pharma always had a recovery in its base business to return to. But after the third-quarter earnings season, it seems both base and pandemic pharmaceutical businesses are still co-existing for now.
The COVID-19 vaccine and treatment market is expected to evolve into more a flu-like volume and market in 2023, but will remain a "multi-billion dollar" franchise, Bourla said.
Spikevax revenues beat expectations but analysts are bracing for the eventuality of lower vaccine revenues as COVID-19 becomes endemic. Moderna will have four new vaccines in Phase III this quarter.