A Moderna (COVID-19) vaccine is seen at the LA Mission homeless shelter on Skid Row in Los Angeles, California, United States on February 10, 2021.
Lucy Nicholson | Reuters
Moderna announced on Thursday that the Covid-19 vaccine is expected to generate sales of $ 18.4 billion this year.
When it released its fourth quarter earnings, Moderna also said its chief medical officer, Tal Zaks, will be leaving the company in late September. The company said it has engaged Russell Reynolds “to recruit a new CMO with global and commercial experience.”
Moderna shares rose 3.9% in premarket trading.
The news comes a day after the company announced it would produce at least 700 million doses of Covid vaccine this year. It is also expected to produce up to 1.4 billion doses of Covid vaccine by 2022.
Pfizer, which has also approved a vaccine for use in the United States, announced earlier this month that doses are expected to sell for approximately $ 15 billion this year.
Moderna has signed a contract with the federal government for 300 million cans and has shipped approximately 55 million cans to the United States. The first 100 million cans are expected to be shipped to the US by the end of the first quarter and the second 100 million cans by the end of May and the third by August.
Moderna, like other vaccine manufacturers, has been working swiftly to meet demand for shots, which will hopefully help end the pandemic that has infected more than 112 million people and killed at least 2.4 million people, according to Johns Hopkins University.
The company is in talks with the Food and Drug Administration over a proposal to fill its Covid vaccine bottles with up to five additional doses to remove a manufacturing bottleneck. One vial of Moderna’s two-shot vaccine contains 10 doses, enough to vaccinate five people, according to the Centers for Disease Control and Prevention.
The company also said Thursday it was in talks with the World Health Organization-backed COVAX initiative to deliver doses this year and in 2022.
Moderna’s vaccine has been approved by the FDA for use in people aged 18 and over. Clinical studies are incomplete for children, whose immune systems may react differently than adults.
The company announced Thursday that 3,000 participants had taken part in a clinical trial testing the vaccine in children ages 12-17.