Moderna Inc. has reaffirmed its confidence in its full-year 2023 COVID-19 sales guidance, despite the recent revised guidance from Pfizer Inc. The company anticipates that COVID vaccine sales will range between $6 billion and $8 billion for the full year, as previously announced in their August earnings release.
While Moderna remains optimistic, it acknowledges that it is still too early to accurately predict vaccination rates for the entire U.S. vaccination season. The company expects to have a clearer understanding of the U.S. market size by the end of October and will provide an update when it reports its quarterly results on November 2.
The downward revision of Pfizer's full-year outlook, resulting from lower projected COVID-19 sales, has impacted the shares of various vaccine manufacturers. Moderna's stock fell by 4% on Monday morning, while Novavax and BioNTech also experienced declines. In contrast, Pfizer's shares rebounded by 3% after a significant drop on Friday.
Moderna continues to closely monitor the situation and will adjust its strategies accordingly to navigate this evolving landscape.
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