This post was originally published on this site
https://i-invdn-com.akamaized.net/trkd-images/LYNXMPEH450KG_L.jpg
Deals for “booster” doses, nations looking to stock up supplies for 2022 and beyond and a likely authorization for use of the vaccines in kids have led Moderna (NASDAQ:MRNA) and its larger rival Pfizer (NYSE:PFE) to ramp up their supplies.
Moderna said an initial analysis of a study in adolescents aged 12-17 years showed an efficacy rate of 96% for its vaccine.
The company has also been working on a new version that could extend the time the vaccine can be stored in refrigerator temperatures, making it easier to distribute, especially in lower-income countries.
However, Moderna shares along with other global vaccine makers fell in premarket trading following U.S. President Joe Biden’s decision to support a waiver of intellectual property rights for COVID-19 vaccines.
While the move is aimed at increasing vaccine availability in poorer countries, it could potentially hit sales of COVID-19 vaccines.
Chief Executive Stéphane Bancel said the company could sign more deals with countries for supply of the vaccine in 2022 than in 2021.
Earlier this week, Pfizer raised its full-year forecast for the COVID-19 vaccine it developed with Germany’s BioNTech to $26 billion.
Moderna had in February forecast vaccine sales of $18.4 billion. In the first quarter ended March 31, its vaccine brought in sales of $1.7 billion, helping the drugmaker record a profit for the first time ever.
The company said it plans to file for full approval of the vaccine in the United States this month.
