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The American drugmaker stated that Moderna’s Covid-19 vaccine was 93% effective within six months after the second vaccination. The American drugmaker stated that sales of the vaccine helped the company achieve a record Quarterly profit.
Moderna said on Thursday that the company’s sales of coronavirus vaccines in the second quarter were US$4.2 billion, bringing its profit to US$2.8 billion. The profit was in line with analysts’ expectations and was higher than the US$1.2 billion in the first quarter of 2021.
The biotech company said its vaccine is 93% effective against coronavirus infection and 98% effective for hospitalization after six months.
The American drugmaker reiterated its belief that booster injections will be needed later this year, even though its initial two-dose Covid vaccine regimen has a high efficacy within six months.
It stated that the Phase 2 study showed that its three enhanced programs produced a “strong antibody response” to worrying Covid-19 variants, including Delta, which was accused of rising infection rates in some countries, including the United States. s reason.
Moderna President Stephen Hoge (Stephen Hoge) said: “We believe that the increased infectivity caused by the Delta variant and the seasonal effects of moving indoors will eventually lead to an increase in breakthrough infections in vaccinated individuals.”
He added, “A booster dose may be needed this fall, especially in the face of the Delta variant.” Delta accounts for the majority of new Covid infections in the United States and causes The number of hospitalization surged In states with low vaccination rates.
Health officials are studying the need to boost injections to maintain immunity to the virus. Moderna’s booster trial used a 50 mg dose instead of the 100 mg dose used in its original vaccine regimen. Hoge said the company will wait to evaluate the data from its 100mg booster trial, which is expected to be “in just a few weeks” before applying for approval from regulators.
Pfizer has stated that it plans to seek approval from US regulators for the third injection. On Wednesday, the World Health Organization called for a moratorium on the provision of boosters until more people in developing countries are vaccinated.
Moderna is focusing its enhanced work on its original vaccine, multivalent jabs against multiple strains, and Delta variant-specific vaccines. Hogg said that as “epidemiology has moved from Beta variants to Delta,” it has given up vaccines against Beta variants.
Moderna sold 199 million doses of mRNA vaccines in the three months ending in June, and signed a $20 billion Covid-19 vaccine contract this year, including completed sales.
Its vaccine has been approved for use in Europe, the United States, the United Kingdom, Japan, and Canada.
Moderna expects to produce as many as 1 billion doses of vaccine this year and 3 billion doses by 2022. CEO Stéphane Bancel said that the drugmaker’s production capacity has now “fully reached its peak” in 2021, and the company will not accept new orders.
It has signed contracts worth US$12 billion in 2022 and additional options worth US$8 billion, and has agreed to some contracts in 2023, including contracts with Israel and Switzerland. The company plans to launch a stock repurchase program of up to $1 billion in the next two years.
Hogg said that as the pandemic turns into an endemic disease, “market forces” will determine the price of vaccine doses.
The biotech company has applied for full regulatory approval in the United States and is expected to complete the submission in August.
Moderna’s stock price rose 2% in early trading in New York.