"Moderna's Transition Year Leads to Profit Despite Decline in COVID Vaccine Sales"
Moderna CEO Stéphane Bancel anticipates a year of growth in 2024 after a transition year in 2023, which saw COVID-19 vaccine sales of $6.8 billion. Despite a decrease from the prior year's $18 billion, ongoing demand for the vaccine is expected to drive revenues of $4 billion in 2024. Bancel emphasizes the importance of increasing vaccination rates, particularly among the elderly, and highlights the potential for COVID vaccines in preventing long-term unemployment due to long COVID effects. Moderna is also awaiting FDA decision on its RSV vaccine for older adults and continuing research on a combination flu and COVID vaccine, as well as a cancer vaccine in partnership with Merck.