Moderna Projects $21 Billion Annual Revenue for Its COVID-19 Vaccine

Moderna said it expects to earn approximately $21 billion from sales of its COVID-19 vaccine, Spikevax, this year, based on its advance purchase agreements. The previous estimate was $19 billion.

The projected revenue could also increase if the vaccine is no longer being offered for free in the U.S. through federally funded programs. Congress is currently considering whether to allocate more funding for federal COVID-19 vaccination programs.

Spikevax is the Cambridge, Mass.-based company’s first approved messenger RNA (mRNA) product. The company is expanding its mRNA vaccine program to include several other viruses.