Moderna Covid vaccine sales top $18bn

US biotech Moderna said on Monday that it sold more than $18bn of Covid-19 vaccines last year.

Updating investors on trading as well as its pipeline of new mRNA treatments, the firm said Covid vaccines sales for 2022 were $18.4bn, in line with its forecast of between $18bn and $19bn.

It also forecast for minimum Covid vaccine sales of $5bn for 2023, noting that it expected to secure additional contracts in the US, Europe and Japan. The firm had previously forecast sales of between $4.5bn and $5.5bn for 2023.

Regarding future treatments, Moderna said that its phase 3 study for a RSV vaccine in older adults had enrolled more than 36,000 participants, with research also continuing into a seasonal flu vaccine. A personalised cancer vaccine for melanoma, which it is developing in partnership with US pharma Merck & Co, is expected to undergo a phase 3 study this year.

Moderna also confirmed it would increase research and development spending in 2023, to $4.5bn in 2023.

Stephane Bancel, chief executive, said: "We enter 2023 in a great position, with significant momentum across our clinical pipeline…and a strong balance sheet of over $18bn of cash and cash equivalents.

"With encouraging clinical data across the entire Moderna platform, we are accelerating our investments to deliver the greatest possible impact to people through mRNA medicines."

As at 1300 GMT, Moderna was largely flat in pre-market trading.