Moderna on Nov. 6 revised its revenue projections for 2025 after third-quarter sales plummeted from a year prior.
Moderna made just $1 billion in the third quarter, down 45 percent from the $1.9 billion it made in the third quarter of 2024.
The drop was primarily driven by a 47 percent decrease in sales, mainly sales of the company’s COVID-19 vaccines. Sales were down $847 million, or 47 percent, compared with the third quarter of 2024.
In the United States, one of Moderna’s best markets, the decrease “reflected reduced vaccination rates year over year,” Moderna said in a statement.
Moderna executives told investors in a call that just 13.2 million COVID-19 vaccine doses have been administered in retailers as of Oct. 24, down 30 percent through the same date from 2024, with 42 percent being Moderna products. Most of the vaccines are administered in retail environments. Moderna had predicted a 20–40 percent drop from the year prior before the fall….