COVID-19 jab maker Moderna posts 13-fold revenue increase thanks to vaccine
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March 1, 2021 (LifeSiteNews) — Major COVID-19 vaccine maker Moderna posted a more than 13-fold increase in total revenue in 2020, compared to 2019, the company revealed in an earnings report on Thursday.
“Total revenue was $803 million for the year ended December 31, 2020 compared to $60 million for the year ended December 31, 2019,” the report said, adding that much of the change is linked to the company’s coronavirus vaccine, mRNA-1273.
“The increases in [the fourth quarter of 2020 and the full year] were driven by increases in grant revenue and product sales,” the report continued. The rise in grant revenue came primarily from an award by the federal Biomedical Advanced Research and Development Authority (BARDA), it said.
The U.S. government has pledged over $500 million to aid the development of mRNA-1273and claims a stake in the intellectual property, Axios reported last year. Moderna “retains worldwide rights to develop and commercialize” the jab, Thursday’s report noted.
“We began to recognize revenue in December 2020 from our COVID-19 vaccine subsequent to its authorization for emergency use by the FDA and Health Canada,” the report added, announcing nearly $200 million in product revenue in 2020. mRNA-1273is the only product that Moderna has brought to the market.
The coronavirus vaccine also helped boost the company’s market capitalization by more than $50 billion and skyrocket its share price over 700% last year. Morgan Stanley has estimated that roughly half of the new value is due to the vaccine.
The rapid growth of Moderna, a previously little-known Massachusetts-based startup, has turned at least three shareholders into billionaires so far, with top executives cashing out almost $100 million by May alone.
Moderna’s expansion is likely just beginning, the company indicated on Thursday, highlighting “a total of $18.4 billion in anticipated product sales” of the COVID-19 vaccine this year based on already-signed agreements.Moderna expects to distribute between 700 million and 1 billion doses of the vaccine in 2021 and up to 1.4 billion by 2022. Over 60 million doses of mRNA-1273 have been shipped to date.
Pfizer, another top COVID-19 vaccine maker, recently announced massive anticipated earnings from its vaccine as well, with $15 billion in predicted sales in 2021. Revenue from the COVID-19 vaccine would outpace that of the Pfizer's current best-selling product by almost $10 billion.
While the novel mRNA vaccines are shaping up to be virtually unparalleled money-makers for Big Pharma, experts have repeatedly linked them to severe adverse effects, including prion disease and rare autoimmune disorders. Other have serious raised concerns about the jabs’ trials.
More than 1,000 deaths after COVID-19 vaccination have been reported to the U.S. government in the last three months, the U.S. Centers for Disease Control (CDC) revealed on Thursday. The numbers are likely an undercount, given the well-documented inefficiency of the CDC’s vaccine injury tracking system.
Meanwhile, the U.K. government has cautioned that pregnant and breastfeeding women should not receive the vaccine. In December 2020, it published a guide to medical professionals about the Pfizer vaccine recommending that it not be taken by pregnant women and advised women of childbearing age not to get pregnant within two months of accepting their second dose. Women were also warned that the vaccine should not be used during breastfeeding, as its effect on babies was still unknown. Regarding fertility, the 10-page “Reg 174 Information for UK Healthcare Professionals” said only that it was “unknown whether COVID-19 mRNA Vaccine BNT162b2 has an impact.”
LifeSiteNews has produced an extensive COVID-19 vaccines resources page. View it here.