Moderna has downgraded the sales forecasts for its Covid-19 vaccine this year, blaming delays in international shipping and temporary issues related to manufacturing capacity.
The US biotech said on Thursday it expects product sales of $15bn to $18bn in 2021, down from an earlier estimate of $20bn in August. The company now expects to deliver 700m to 800m doses this year, compared to earlier estimates of between 800m to 1bn.
Moderna shares fell as much as 11 per cent in premarket trading after the disappointing guidance. Consensus estimates from analysts had forecast full-year sales of $19.8bn.
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