By Tyler Durden
Moderna’s stock crashed late last week as it was hit by disappointing vaccine sales and Pfizer’s ‘miracle’ COVID pill news. Wall Street analysts panicked about a handful of factors, but while Moderna and its rivals managed to complete their groundbreaking vaccines in ten months (with government help, of course), inventing the vaccines actually wasn’t the hardest part of the process.
Mass-producing enough jabs to inoculate the entire world (or, at least, the entire developed world) is a task of almost herculean proportions. And while Moderna rivals like Pfizer have factories already in place to produce various products already being sold by the pharma giant, Moderna and other rivals had to ramp up facilities on multiple continents and distributing the vaccine to countries around the world in the middle of a devastating pandemic.
But when Moderna revealed during its Q3 earnings that its FY2021 production target would be between 700MM and 800MM jabs, analysts – and by extension, investors – were none too pleased. It was this subpar sales guidance that, combined with the Pfizer news, that sent shares of the pharma contender (which had been relentlessly pumped on CNBC by investor Stephen Weiss) sliding.
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