Moderna to Cut Over $1 Billion by 2027, Aims for New Vaccine Approvals as the Pharmaceutical Transitions Away from Its COVID-19 Business

Benzinga

Moderna announced plans to reduce its expenses by more than $1 billion by 2027 as it transitions from its COVID-19 business. The biotech company aims to secure ten new product approvals by 2027, including vaccines for RSV and a flu-COVID combination shot. Moderna will pause or discontinue certain pipeline products, trimming its research and development spending. The company also highlighted its potential vaccines for cancer and latent viruses, which could drive revenue growth. Moderna projects 2025 revenue between $2.5 billion and $3.5 billion and expects a 25% annual growth rate as new products launch by 2026.

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00:00It's Benzinga, and here's what's on the block.

00:02Moderna announced plans to reduce its expenses by more than $1 billion by 2027 as it transitions

00:08from its COVID-19 business.

00:10The biotech company aims to secure 10 new product approvals by 2027, including vaccines

00:15for RSV and a flu-COVID combination shot.

00:18Moderna won't pause or discontinue certain pipeline products, trimming its research and

00:22development spending.

00:24The company also highlighted its potential vaccines for cancer and latent viruses, which

00:28could drive revenue growth.

00:30Moderna projects 2025 revenue between $2.5 billion and $3.5 billion and expects a 25

00:35percent annual growth rate as new products launch by 2026.

00:38For all things money, visit Benzinga.com.

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