Unlike Pfizer, Moderna can meet 2023 COVID forecast, analysts say

Moderna should hit the lower end of its sales target for this year as it only needs to tap a small portion of the private market with its COVID vaccine to reach that goal, according to industry analysts.
Around 20 million people need to be vaccinated with Moderna’s updated COVID-19 vaccine for the company to reach $2 billion in 2023 sales from the private market, a figure four analysts told Reuters was achievable.
The company has said it expects total U.S. COVID vaccine demand to be as much as 100 million doses in the fall season.
Moderna forecast $6 billion to $8 billion for sales of its COVID-19 vaccine in 2023, $2 billion to $4 billion of which is expected to come from the commercial market. Previously signed government contracts would account for the rest.
That forecast was called into question last month, when Pfizer lowered its full-year outlook for sales of its COVID-19 shot by about $2 billion due to lower-than-expected vaccination rates.
Moderna’s shares have fallen by some 22% since its larger rival’s warning.