(RTTNews) - Moderna, Inc. (MRNA) said it achieved 2023 COVID-19 vaccine sales of approximately $6.7 billion, which includes approximately $6.1 billion of COVID-19 vaccine sales, and recognition of approximately $0.6 billion of deferred revenue related to the efforts with GAVI, The Vaccine Alliance. Cash, cash equivalents and investments at year-end 2023 were in excess of $13 billion.
The company expects COVID-19 franchise to be profitable in anticipated sales scenarios for 2024 and beyond. Moderna continues to project approximately $4 billion in product sales in 2024, mostly in the second half of the year, primarily due to COVID-19 vaccine sales and the launch of RSV vaccine.
The company expects returning to organic sales growth in 2025 and expects to break even in 2026 through product launches and disciplined investment.
Stephane Bancel, CEO of Moderna, said: "We are preparing for the launch of Moderna's second product, our RSV vaccine. 2024 is going to be an exciting year for the company with multiple milestones across our nine late-stage programs. Through these product launches, we are focused on returning to sales growth in 2025."
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