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Moderna’s shares fall significantly after the 2021 estimates worsen

Shares of Moderna Inc. fell 11 percent in the pre-opening of the Wall Street Stock Exchange meeting after the US pharmaceutical group worsened its sales estimates in 2021 for its $ 5 billion Covid-19 vaccine because it failed to increase production, Reuters reports.

The Modern Vaccine uses a new technology called messenger RNA (mRNA).

The company now expects sales of between $ 15 billion and $ 18 billion this year, up from a previously projected level of $ 20 billion. In 2021, Moderna would deliver between 700 and 800 million doses, after previously estimating a level between 800 million and one billion doses.

The worsening of forecasts comes amid delays in international deliveries, with some doses expected to reach their destination in 2022, and the temporary impact of expanding production capacity.

For next year, Moderna expects sales of between 17 and 22 billion dollars, after signing several contracts with various countries for its vaccines and buster doses.

The data comes after US rival Pfizer Inc improved for the third time this year its estimates of Covid-19 vaccine sales in 2021, to $ 36 billion, 7.5% above previous forecasts, given that signs agreements with countries around the world for buster doses and for the use of the vaccine to immunize children.

According to the latest estimates from Pfizer, the company expects to deliver 2.3 billion doses of anti-Covid vaccine this year, out of the approximately three billion doses it expects to produce this year.

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