Moderna Eyes Global Growth Amid U.S. Regulatory Challenges
Moderna is shifting its focus internationally following the U.S. FDA's refusal to review its flu shot. The company plans to leverage partnerships and expand its COVID-19 vaccine for growth. Regulatory challenges in the U.S. are pushing Moderna to explore opportunities abroad to sustain its revenue and innovation.
Moderna has announced its intention to seek growth overseas after facing setbacks in the U.S. market, where the FDA did not review its experimental flu shot. The vaccination company is optimistic about expanding its partnerships in the UK, Canada, and Australia to boost its next-generation COVID-19 vaccine, seeking to recover from tumbling demand domestically.
The pharmaceutical firm forecasts up to a 10% increase in revenue by 2026, largely driven by its international sales. This comes after a turbulent period where Moderna's shares fell significantly following rejection of the flu vaccine by U.S. regulators, only to climb back with news of expected foreign growth prospects.
CEO Stephane Bancel highlights regulatory hurdles in the U.S. as a critical challenge, suggesting it may result in innovative treatments reaching foreign markets first. With altering U.S. vaccine policies under Health Secretary Robert F. Kennedy Jr., Moderna is repositioning itself to continue pushing the boundaries of mRNA technology, targeting oncology and rare diseases as future growth areas.
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