Business

Analysts predict Moderna to meet COVID-19 forecast for 2023

Published

1 year ago

Farwa

Moderna is expected to achieve the lower end of its sales target for this year as it only needs to cater to a small section of the private market with its COVID-19 vaccine to attain that goal, as per the industry experts.

According to four analysts who spoke with Reuters, it is possible for Moderna to achieve $2 billion in sales from the private market in 2023 if about 20 million people are vaccinated with its updated COVID-19 vaccine.

The company has said it expects total US COVID-19 vaccine demand to be as much as 100 million doses in the fall season.

Moderna predicts $6-8 billion in COVID-19 vaccine sales in 2023, with $2-4 billion coming from the commercial market. Pfizer’s full-year outlook for COVID-19 vaccine sales was lowered by about $2 billion due to lower-than-expected vaccination rates.

Moderna’s shares have fallen by some 22% since its larger rival’s warning.

“It is unlikely Moderna will have a negative fall (in its sales outlook) like Pfizer because they started off much more conservative,” said Oppenheimer & Co analyst Hartaj Singh.

Michael Yee, an analyst from Jefferies, said that while the rollout of the new shots was initially slow, it seems to be picking up, citing recent data. Yee expects most of the demand to come from people aged 65 and over.

Moderna reports third-quarter results on Thursday, two days after Pfizer posted its first quarterly loss since 2019 due to a large charge to account for the US government returning millions of doses of its COVID-19 antiviral treatment Paxlovid, as well as an inventory of its COVID-19 vaccine Comirnaty.

Moderna, a Cambridge, Massachusetts-based company, has seen its research and development (R&D) costs increase by 62% to $1.1 billion in Q2 2021, despite the COVID-19 vaccine being its only marketed product, as it aims to introduce other products.

The company’s RSV vaccine, which it aims to launch in the US in 2024, was found to be 82.4% effective in older adults with three or more symptoms in a late-stage trial. It would compete with recently approved vaccines from Pfizer and GSK.

Data from a late-stage study of Moderna’s flu vaccine with an updated formulation released in September showed it generated a stronger immune response against all four A and B strains of the influenza virus compared to traditional flu shots.

Moderna’s broader mRNA-based respiratory pipeline, which includes RSV and flu vaccines, is expected to reach $10 billion to $12 billion in sales, which will reduce expenses and bring R&D stability by 2025, Yee said.

Business

With its second-largest surge ever, PSX approaches 114,000 points.

Published

5 hours ago

Farwa

Driven by renewed activity from both private and government financial institutions, the Pakistan Stock Exchange (PSX) saw its second-largest rally in history on Monday.

The market regained many important levels in a single trading session as it rose with previously unheard-of momentum.

Intraday trading saw a top increase of 4,676 points, and the PSX’s benchmark KSE-100 Index gained 4,411 points to settle at 113,924 points. This impressive rebound demonstrated significant investor confidence by reestablishing the 100,000, 111,000, 112,000, and 113,000-point levels.

The market also saw the 114,000-point limit reestablished during the trading session.

The positive tendency was reflected when the market’s heavyweight shares touched its upper circuits. Among the most busiest trading sessions in recent memory, an astounding 85.78 billion shares worth a total of Rs55 billion were exchanged.

Experts credited the spike to heightened institutional investor activity and hope for macroeconomic recovery. Considered a major market recovery, the rally demonstrated the market’s tenacity and development potential.

Business

In interbank trade, the Pakistani rupee beats the US dollar.

Published

1 week ago

Farwa

In the international exchange market, the US dollar has continued to weaken in relation to the Pakistani rupee.

The dollar fell to Rs278.10 from Rs278.17 at the beginning of interbank trading, according to currency dealers, a seven paisa loss.

In the meantime, there was a lot of turbulence in the stock market, but it recovered and moved into the positive zone. The KSE-100 index recovered momentum and reached 116,000 points after soaring 1,300 points.

Both currency and stock market swings, according to analysts, are a reflection of ongoing market adjustments and economic uncertainty.

Business

Phase II of CPEC: China-Pakistan Partnership Enters a New Era

Published

1 week ago

Farwa

The cornerstone of economic cooperation between the two brothers and all-weather friends is still the China-Pakistan Economic Corridor, the initiative’s flagship project.

In contrast to reports of a slowdown, recent events indicate a renewed vigour and strategic emphasis on pushing the second phase of CPEC, known as CPEC Phase-2, according to the Ministry of Planning, Development, and Special Initiatives.

According to the statement, this crucial stage seeks to reshape the foundation of bilateral ties via increased cooperation, cutting-edge technology transfer, and revolutionary socioeconomic initiatives.

Planning Minister Ahsan Iqbal is leading Pakistan’s participation in a number of high-profile gatherings in China, such as the 3rd Forum on China-Indian Ocean Region Development Cooperation in Kunming and the High-Level Seminar on CPEC-2 in Beijing.

His involvement demonstrates Pakistan’s commitment to reviving CPEC, resolving outstanding concerns, and developing a strong phase-2 roadmap that considers both countries’ long-term prosperity.

At the core of these interactions is China’s steadfast determination to turn CPEC into a strategic alliance that promotes development, progress, and connectivity.

Instead of being marginalised, CPEC is developing into a multifaceted framework with five main thematic corridors: the Opening-Up/Regional Connectivity Corridor, the Innovation Corridor, the Green Corridor, the Growth Corridor, and the Livelihood-Enhancing Corridor.

With the help of projects like these, the two countries will fortify their partnership, and CPEC phase-2 will become a model of global economic integration and collaboration that benefits not just China and Pakistan but the entire region.