Moderna lowers forecast for 2021 Covid-19 vaccine deliveries

Moderna is scaling back expectations for the number of Covid-19 vaccine deliveries it expects to make this year and the revenue it will record from them.

The drugmaker said on Thursday that longer delivery lead times for exports and a temporary impact from expanding its fill-finish capacity may shift some deliveries to early 2022.

The company now expects full-year, 2021 product sales of between $15 billion and $18 billion.

Also Read | Moderna says FDA needs more time to complete review of its Covid-19 shot for adolescents

That's down from a prediction for $20 billion in sales that it made in August.

Moderna's Covid-19 vaccine is the only product the drugmaker has on the market. It brought in $4.81 billion in sales during the third quarter, up from $4.2 billion the previous quarter.

The Cambridge, Massachusetts, company also reported on Thursday third-quarter results that missed expectations.

Also Read | Moderna Covid-19 shot could start being used in children, teens 'within weeks,' CEO says

Company shares fell almost 11% before the opening bell.

Moderna Inc. makes one of three Covid-19 vaccines currently being used in the United States.

The others are made by Pfizer Inc. and Johnson & Johnson.

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