Pfizer won first round, but Moderna aims for final victory

Pfizer Inc. has been the first to cross the finish line at nearly every stage of the COVID-19 vaccine race, but executives at Moderna Inc. say their company’s long experience with RNA messenger technology gives you a longer lasting advantage.

“We are not dabblingIn mRNA, the technology that is the backbone of America’s two major vaccines, said the president of Modern, Stephen Hoge, in an interview on Friday. “We have been doing this for some years, we are the creators of this space ”.

high said the experience of Pfizer With rapid clinical trials and mass production it allowed him to excel in the short term. The pharmaceutical giant, founded in 1849, has developed countless known therapies. Also, your partner, BioNTech SE, had been working on mRNA for years.

Modern It was created in 2010 and has only one product on the market, its vaccine. But Moderna’s superior technology and knowledge of ARN will keep it going as the market matures, he predicted. high.

“I do not intend to beat them at their game ”, said. “They’re trying to figure out how to play mine”.

Modern it has reached an important moment in its short history. Its stock skyrocketed when its vaccine emerged as the favorite against COVID, but it faces growing skepticism from investors who say its next products are years away from the market and that a deep drop in sales could meanwhile. be in the offing.

In fact, that anxiety has put pressure on the actions of Modern and Pfizer. Moderna is down 29% since hitting a 52-week high on Aug. 9, while Pfizer is down 13% since hitting its peak last year on Aug. 17.

Despite these fears, the executives of Modern They said they stick to the formula that made them one of the most valued startups in biotech history, and that their approach offers them a lot of flexibility to compete with the biggest drug companies.

Executive Director, Stephane BancelHe said the company – whose ticker MRNA is a reflection of its commitment to its core technology – will not rush into deals to try to shore up sales.

“We are not trying to run a business to increase revenue. It is not an income game. It is a science and technology strategy that we have ”, Bancel said. “We have a very dense project portfolio and a lot of income comes from it.”

Output gap

For the moment, however, Modern it is operating in the shadow of its larger rival. Hoge acknowledged that Pfizer He’s been about a month early on initial COVID-19 vaccine and booster launches, something he said was largely a function of Pfizer’s manpower and production weight. Moderna hadn’t manufactured anything to scale before the pandemic.

Pfizer and BioNTech they plan to produce 3 billion doses of vaccines this year; Moderna will not manufacture more than 1,000 million. The gap will narrow next year, when Moderna aims to produce 3 billion doses, compared to the 4 billion projected by Pfizer.

“We have always been told that we cannot compete with Pfizer“, said high. He said that, per employee, Moderna is outpacing Pfizer’s production.