Moderna recorded a huge profit thanks to the vaccine. The U.S. biotech company closed 2021 with a profit of $12.2 billion compared with a loss of $747 million posted in 2020, according to the latest available results released by the company Thursday.
Moderna’s total revenue in 2021 was $18.47 billion compared with $803 million in 2020. “Revenues increased primarily from sales of the Covid-19 vaccine.” Of this total amount, product sales were $17.67 billion compared to $200 million in 2020.
Moderna’s research and development (R&D) expenses in 2021 were $2.0 billion compared with $1.4 billion in 2020. The increase was primarily due to increases in clinical trial expenses, personnel-related costs, and consulting and outside services.
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Moderna achieved a profit of $4.868 million in the last quarter of 2021
In the fourth quarter of 2021, Moderna achieved a profit of $4.87 billion compared with a loss of $272 million in 2020. Total revenue increased from $571 million to $7.21 billion.
“In 2021, we delivered 807 million doses and approximately 25% of them went to low- and middle-income countries; Moderna has experienced exponential growth and we have more than doubled the size of our team over the last year with 3,000 people,” according to Stéphane Bancel, CEO of Moderna.
He adds, “We have also announced plans to scale to 21 commercial subsidiaries worldwide, including four new locations in Asia and six new locations in Europe; we continue to expand and advance our messenger RNA (mRNA) portfolio with 44 programs in development.”
Moderna believes that the Sars-Cov-2 virus will evolve to an endemic phase in 2022 and, as a result, the company expects sales to be higher in the second half than in the first half of the year.
In 2022, the company plans to further expand its commercial network by establishing or activating commercial subsidiaries in the following geographies: in Asia: Hong Kong, Malaysia, Singapore, and Taiwan; and in Europe: Belgium, Denmark, the Netherlands, Norway, Poland, and Sweden. In addition, Moderna will continue to work with distributors or partners in other geographies.
In Spain, Moderna has just hired its new market access manager for Spain and Portugal, Marisol Gimeno, from Merck Sharp&Dohme (MSD), as confirmed exclusively to PlantaDoce by Moderna sources. Gimeno comes from MSD, where she has worked for five years and held positions of responsibility for market access in the area of vaccines in Madrid. She holds a degree in Pharmacy and Biochemistry from the Complutense University of Madrid, a postgraduate degree specializing in Vaccines from the same academic center, and a Master’s degree in Business Administration from the Universidad Pontificia Comillas Icai-Icade.
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First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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