COVID vaccine makers Moderna and Pfizer are pinning their hopes on private markets sales and strong demand for their new updated shots targeting XBB.1.5 variant to turn around a slump in sales of the products that had bumper growth during the peak of the pandemic.
The company sees between $2 billion and $4 billion in the vaccine sales from commercial contracts in the United States and other places.
However, it said $1 billion of a total $5 billion in sales from signed government contracts would be deferred to next year.
Pfizer on Tuesday warned that sales of COVID vaccines were uncertain, adding that the COVID vaccination rates this fall should be a good predictor for annual rates.
For Moderna, second-quarter COVID vaccine sales slumped 94% to $293 million, which was still higher than analysts' average estimate of $233.6 million, according to Refinitiv data.
Persons:
Dado Ruvic, Leroy Leo, Patrick Wingrove, Shinjini
Organizations:
REUTERS, Moderna Inc, Moderna, Pfizer, Thomson
Locations:
United States, Bengaluru, New York