COVID-19 vaccine sales push Moderna past expectations in Q2 – CTV
Aug. 3, 2022
Better-than-expected COVID-19 vaccine sales pushed Moderna past Wall Street’s second-quarter forecasts.
The company said that its Spikevax vaccine brought in US$4.53 billion during the quarter. Analysts were looking for around $3.6 billion, according to FactSet.
Moderna shares surged Wednesday after the company also announced another $3 billion share buyback plan.
Moderna’s vaccine sales in the second quarter represent a drop from the nearly $6 billion that the vaccine brought in during the year’s first quarter, when a virus surge through the United States pushed more people to seek protection.
But those sales could pick up again later this year.
Moderna has developed an updated version of its vaccine for a fall booster campaign that combines the original shot with protection against the omicron variant.
