https://www.upi.com/Top_News/US/2022/05/04/moderna-covid-vaccine-sales-revenue/6511651669138/

May 4 (UPI) — Biotech firm Moderna said on Wednesday that it tripled sales of its COVID-19 vaccine during the first three months of 2022 and smashed most analysts’ expectations with more than $6 billion in revenue.

The company, which has one of three coronavirus vaccines approved for use in the United States, announced the figures in its first-quarter earnings report. Total revenue for the quarter was $6.1 billion, it said.

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Moderna said that net income for the quarter totaled $3.66 billion — which is three times the amount reported in the initial quarter of 2021.

The company noted that it sold $5.9 billion worth of its COVID-19 vaccine, now known as Spikevax, in the first three months of 2022.

Most analysts expected Moderna’s report to show $4.6 billion in total revenue — underestimating the actual figure by about $1.5 billion.

The company’s report also noted a first-quarter profit of $8.58 per share, which is far more than experts predicted.

Combined, Moderna and Pfizer sold about $19 billion worth of their coronavirus vaccines during the first quarter of 2022. Both figures shattered Wall Street expectations. File Photo by Debbie Hill/UPI

Moderna’s was the second COVID-19 vaccine to receive emergency authorization in the United States in December 2020, after Pfizer’s, and the vaccine accounts for the lion’s share of the company’s income.

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The pharma giant said in its report Wednesday that it expects four more products to enter Phase 3 testing by the start of July — an Omicron-specific booster and three non-coronavirus vaccines.

“We also look forward to advancing our therapeutic programs … on our rare genetic disease programs for propionic acidemia and methylmalonic acidemia, and on our personalized cancer vaccine program this year,” Moderna CEO Stephane Bancel said in a statement.

Moderna’s report came a day after competitor Pfizer announced first-quarter revenue of almost $26 billion, which included close to $15 billion in sales of its COVID-19 vaccine and antiviral treatment Paxlovid.

Johnson & Johnson, which produces the only other U.S.-authorized COVID-19 vaccine, said last week that it earned revenue of $23.4 billion and sold $457 million worth of its coronavirus vaccine in the first quarter.

All told, Johnson & Johnson, Moderna and Pfizer combined to sell almost $20 billion worth of their coronavirus vaccines during the first three months of this year.

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