Moderna CEO says COVID moving into endemic stage
Moderna CEO expects to move to an annual booster for people at high risk
COVID moving into an endemic setting: Moderna CEO Stephane Bancel
Moderna CEO Stephane Bancel discusses the end stages of the COVID pandemic, booster shots, the company's outlook for 2023, RSV vaccines, the melanoma trials and mRNA technology.
Modena CEO Stephane Bancel said coronavirus is transitioning from a pandemic to an endemic.
"It's tough to look precisely because none of us managed a transition from a pandemic to an endemic before. But we really think now that we're moving into an endemic setting," he told FOX Business’ Maria Bartiromo in an exclusive interview that aired on "Mornings with Maria" Tuesday.
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Bancel went on to say the omicron booster resulted in "very good" clinical data in terms of vaccine efficacy.
"I think we are now getting ready for yet another update in the fall, and we are going to move most probably to annual boosters for people at high risk."
Moderna CEO said the COVID pandemic is moving into an endemic. (Photo by JOSEPH PREZIOSO/AFP via Getty Images / Getty Images)
In 2022, Moderna generated a whopping $18.4 billion, but now analysts are lowering estimates for 2023 to a mere $5 billion. Bancel said that the projected $5 billion is a "flaw" in terms of sales and that the company sees that as a bare "minimum."
"But $5 billion, we see it as a flaw, meaning those are things where we already have contracts place like with Canada and the U.K. This $5 billion assumes no sales in the U.S. And of course, we are currently talking to pharmacies and hospital network and doctors to have the new boosters available in the fall of 23'. So, I think that this is what we see as a minimum, as a flaw in terms of sales," the CEO explained.
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Maria Bartiromo asked the CEO how he plans to "fill in" the revenue gap. He promptly responded that Moderna's "pipeline" of drugs in development will enable the company to maintain economic success.
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"Thanks to our pipeline. I mean, as you know, we have this amazing platform where I think for one of the first time, if not the first time in the history of biology, we can do drugs very quickly. And so if you look at Moderna today, we have 48 drugs in development. Just in Q1 2023, we're going to have Phase 3 data very soon on RSV. And as you know, RSV has been really, really about this for the winter season," Bancel concluded.
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