Biotech company Moderna said Thursday that it expects to make almost $20 billion this year from sales of its COVID-19 vaccine — the only product that it has on the market.
Moderna said in its earnings report that it generated $4.9 billion in the final quarter of 2021 and sold almost $18 billion worth of the vaccine for all of last year, its first full year of selling the coronavirus shot.
“In 2021, we delivered 807 million doses with approximately 25% of those doses going to low- and middle-income countries, and we will continue to scale in 2022 to help end the COVID-19 pandemic,” Moderna CEO Stephane Bancel said in a statement.
“Moderna has experienced exponential growth and we have more than doubled the size of our team over the last year with a global team of 3,000.”
Bancel said that COVID-19 might move from the pandemic phase to an endemic setting sometime this year, and that people will need booster shots in the fall.
The forecast of $19 billion in sales in 2022 is far above what most analysts expected. Moderna’s vaccine is available in more than 70 countries.
The company is presently conducting clinical trials for a booster shot specifically geared toward fighting the Omicron variant.
More than 200 million doses of Moderna’s vaccine have been administered in the United States since it was first authorized in December 2020.
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