If all goes according to his revised plan, Modern (NASDAQ: MRNA) will have many more doses of coronavirus vaccine on the market than previously expected. The company announced Monday that its base estimate for global production of mRNA-1273 in 2021 will be raised to 600 million doses from the previous estimate of 500 million.
Ideally, it would yield as much as 1 billion for the year. It is currently adding staff to achieve such capacity.
Among other things, Moderna bases its new estimate on the initial introduction of the coronavirus vaccine in North America.
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“Our efficiency in providing early supply to the U.S. and Canadian governments and our ability to increase production estimates for 2021 to 2021 are both a sign that our scale of mRNA vaccine production is a success,” Juan said. Andres, chief operating officer, said.
mRNA-1273 is the second coronavirus vaccine to receive emergency use from the U.S. Food and Drug Administration. This and the first one, Pfizer and BioNTechBNT162b2, is currently distributed and administered in the country.
The U.S. government attempted to deal with an increasingly serious coronavirus outbreak, and contracted 200 million doses of mRNA-1273 with Moderna. The company believes it will have 100 million doses available in the country by the end of the current quarter. To date, about 18 million doses have been provided to the government.
Updating Moderna is good news for the company as well as for this country, as widespread vaccination is needed as soon as possible. The company’s share rose just under 7% on Monday, down from a 1.5% drop S&P 500 index.