Moderna Covid vaccine sales plunge by two-thirds in 2023, but meet company's $6 billion forecast

Moderna reported that its Covid vaccine sales dropped around two-thirds to $6.7 billion in 2023. Despite the significant decline, the revenue met Moderna’s forecast for the year. The company’s announcement highlighted the decrease in demand for Covid products as cases and public concern about the virus subsided. Moderna’s vaccine accounted for the majority of its revenue, with $6.1 billion coming from vaccine sales and $600 million from deferred revenue related to its partnership with a global vaccine organization. The company expects sales from the vaccine to further decline in 2024 but anticipates a return to sales growth in 2025 with the launch of new products. Moderna aims to “break even” by 2026.