Compare and contrast. AstraZeneca is currently producing Covid vaccines for no profit and still manages to get beaten up by opportunists in Brussels. Over in the US, Moderna is hailed as a national saviour while shouting from the rooftops about how its commercial prospects have been transformed by its own Covid vaccine.
Moderna’s full-year statement on Thursday was extraordinary. The company expects to generate revenues of $18.4bn (£13.1bn) year from deals it has signed to supply its vaccine, which is priced at $30–$36 a shot, so is definitely intended to produce a chunky profit margin. That revenue forecast is enormous. For comparison, AstraZeneca’s entire established portfolio – for cancer, cardiovascular, respiratory treatments and more – generated sales of $26.6bn last year.
