The drugmaker said total revenues surged to $1.9 billion in the first quarter as it sold 102 million doses of its vaccine. It reported net income of $1.2 billion compared with a loss of $124 million in the same period a year ago. The pharmaceutical sector is reeling from the US government’s decision on Wednesday to support the temporary suspension of Covid vaccine patents. The company also said results from its phase 2/3 vaccine trial on children aged 12 to 17 showed 96 per cent efficacy. Moderna is likely to benefit from the need for booster shots to tackle emerging variants of coronavirus in the years to come.

Source: The Irish Times May 06, 2021 14:55 UTC