Moderna first-quarter profit triples on robust vaccine sales

CAMBRIDGE, Mass. (AP) — COVID-19 vaccine sales helped Moderna triple its net income in a better-than-expected first quarter.

The vaccine maker said Wednesday that revenue from its coronavirus preventive shots jumped to $5.92 billion from $1.73 billion in last year’s quarter, when the vaccines were debuting in most markets.

More than 217 million doses of Moderna’s Spikevax vaccine have been administered in the U.S., where it is one of three approved options for adults.

In the first quarter, Moderna earned $3.7 billion, compared to $1.2 billion in last year’s quarter.

Categories: Coronavirus, National News