Latest news with #StephaneBancel
Daily Mail
31-07-2025
- Business
- Daily Mail
Pharma industry latest to be hit by layoffs as giant announces sweeping jobs cull
Moderna is set to slash ten percent of its workforce this year, the pharmaceutical giant revealed on Thursday morning. The company - the maker of one of the most prevalent Covid-19 vaccines - now faces uncertainty as that market dwindles. The move, announced in an internal memo by CEO Stephane Bancel, is part of the company's previous plan to cut operating expenses by about $1.5 billion by 2027. 'We've made significant progress by scaling down R&D as respiratory trials conclude, renegotiating supplier agreements, and reducing manufacturing costs,' Bancel said in the memo. Moderna has been banking on revenue from newer mRNA shots, including its experimental COVID-flu combination vaccine, to make up for falling sales of its COVID-19 shot and less-than-expected uptake of its respiratory syncytial virus vaccine. However, investors have been concerned about the prospects of new shots and the changes in vaccine policy under U.S. Health Secretary and vaccine skeptic Robert F. Kennedy Jr. Moderna said in May that it did not expect regulatory approval for its combination shot until 2026, since the U.S. Food and Drug Administration asked for late-stage data showing the vaccine's efficacy against the flu. The company had previously hoped to launch the vaccine for the autumn respiratory disease season in 2025 or 2026. Its shares, down around 23 percent so far this year, have been battered by mounting challenges and declining COVID revenue. Moderna's shares have lost more than 90 percent of their value from its pandemic-era highs.
CTV News
31-07-2025
- Business
- CTV News
Moderna plans to lay off 10% of workforce to cut costs
In this file photo dated Wednesday, Feb. 17, 2021, three vials of the Moderna COVID-19 Vaccine are pictured in a new coronavirus vaccination centre in Berlin, Germany. (AP Photo/Michael Sohn, File) Moderna said on Thursday it would trim roughly 10 per cent of its global workforce and have fewer than 5,000 employees by the end of the year, as the biotech accelerates its cost-cutting efforts amid declining sales of COVID-19 vaccines. The move, announced in an internal memo by CEO Stephane Bancel, is part of the company's previous plan to cut operating expenses by about US$1.5 billion by 2027. 'We've made significant progress by scaling down R&D as respiratory trials conclude, renegotiating supplier agreements, and reducing manufacturing costs,' Bancel said in the memo. Moderna had said earlier this year it expects operating costs to be between US$4.7 billion and US$5 billion for 2027. The Cambridge, Massachusetts-based biotech has been banking on revenue from newer mRNA shots, including its experimental COVID-flu combination vaccine, to make up for falling sales of its COVID-19 shot and less-than-expected uptake of its respiratory syncytial virus vaccine. But investor concerns about the prospects of new shots and the changes in vaccine policy under U.S. Health Secretary and vaccine skeptic Robert F. Kennedy Jr. have led to a more than 20 per cent decline in Moderna's shares this year. The stock, which has lost more than 90 per cent of its value since the pandemic-era highs, was trading about four per cent down on Thursday. Moderna had said in May it did not expect regulatory approval for its combination shot until 2026, since the U.S. Food and Drug Administration asked for late-stage data showing the vaccine's efficacy against the flu. The company had previously hoped to launch the vaccine for the autumn respiratory disease season in 2025 or 2026. Bancel in the memo reiterated the company's target to have eight more approvals for its products in the next three years. --- Reporting by Bhanvi Satija in Bengaluru; Editing by Shilpi Majumdar
Time of India
31-07-2025
- Business
- Time of India
Moderna layoffs: U.S. Pharma giant announces massive job cuts, to have less than 5,000 employees, MRNA stocks sink
Moderna said on Thursday it would trim roughly 10 per cent of its global workforce and have fewer than 5,000 employees by the end of the year, as the biotech accelerates its cost-cutting efforts amid declining sales of COVID-19 vaccines. The move, announced in an internal memo by CEO Stephane Bancel, is part of the company's previous plan to cut operating expenses by about $1.5 billion by 2027. "We've made significant progress by scaling down R&D as respiratory trials conclude, renegotiating supplier agreements, and reducing manufacturing costs," Bancel said in the memo. Explore courses from Top Institutes in Please select course: Select a Course Category MCA healthcare Leadership Technology Healthcare Project Management Data Science PGDM Public Policy Product Management CXO Artificial Intelligence Degree Digital Marketing Design Thinking Finance MBA Operations Management Data Analytics others Others Data Science Management Cybersecurity Skills you'll gain: Programming Proficiency Data Handling & Analysis Cybersecurity Awareness & Skills Artificial Intelligence & Machine Learning Duration: 24 Months Vellore Institute of Technology VIT Master of Computer Applications Starts on Aug 14, 2024 Get Details Moderna had said earlier this year it expects operating costs to be between $4.7 billion and $5 billion for 2027. The Cambridge, Massachusetts-based biotech has been banking on revenue from newer mRNA shots, including its experimental COVID-flu combination vaccine, to make up for falling sales of its COVID-19 shot and less-than-expected uptake of its respiratory syncytial virus vaccine. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Calcutta: 1 Trick to Reduce Belly Fat? Home Fitness Hack Shop Now Undo Moderna MRNA Stocks But investor concerns about the prospects of new shots and the changes in vaccine policy under U.S. Health Secretary and vaccine skeptic Robert F. Kennedy Jr. have led to a more than 20 per cent decline in Moderna's shares this year. Live Events The stock, which has lost more than 90 per cent of its value since the pandemic-era highs, was trading about 4 per cent down on Thursday. Moderna had said in May it did not expect regulatory approval for its combination shot until 2026, since the U.S. Food and Drug Administration asked for late-stage data showing the vaccine's efficacy against the flu. The company had previously hoped to launch the vaccine for the autumn respiratory disease season in 2025 or 2026. Bancel in the memo reiterated the company's target to have eight more approvals for its products in the next three years. FAQs Q1. Is Moderna laying off workforce? A1. Moderna said on Thursday it would trim roughly 10 per cent of its global workforce. Q2. What are Moderna's operating costs? A2. Moderna had said earlier this year it expects operating costs to be between $4.7 billion and $5 billion for 2027.
Time of India
31-07-2025
- Business
- Time of India
Moderna plans to lay off 10% of workforce to cut costs
Moderna said on Thursday it would trim roughly 10% of its global workforce and have fewer than 5,000 employees by the end of the year, as the biotech accelerates its cost-cutting efforts amid declining sales of COVID-19 vaccines. The move, announced in an internal memo by CEO Stephane Bancel , is part of the company's previous plan to cut operating expenses by about $1.5 billion by 2027. Explore courses from Top Institutes in Please select course: Select a Course Category Operations Management Finance MCA Data Science Healthcare Public Policy Digital Marketing CXO Project Management PGDM Technology Artificial Intelligence Product Management healthcare Degree MBA Data Science others Management Leadership Data Analytics Cybersecurity Others Design Thinking Skills you'll gain: Quality Management & Lean Six Sigma Analytical Tools Supply Chain Management & Strategies Service Operations Management Duration: 10 Months IIM Lucknow IIML Executive Programme in Strategic Operations Management & Supply Chain Analytics Starts on Jan 27, 2024 Get Details "We've made significant progress by scaling down R&D as respiratory trials conclude, renegotiating supplier agreements, and reducing manufacturing costs," Bancel said in the memo. Moderna had said earlier this year it expects operating costs to be between $4.7 billion and $5 billion for 2027. The Cambridge, Massachusetts-based biotech has been banking on revenue from newer mRNA shots, including its experimental COVID-flu combination vaccine, to make up for falling sales of its COVID-19 shot and less-than-expected uptake of its respiratory syncytial virus vaccine. Live Events But investor concerns about the prospects of new shots and the changes in vaccine policy under U.S. Health Secretary and vaccine skeptic Robert F. Kennedy Jr. have led to a more than 20% decline in Moderna's shares this year. The stock, which has lost more than 90% of its value since the pandemic-era highs, was trading about 4% down on Thursday. Moderna had said in May it did not expect regulatory approval for its combination shot until 2026, since the U.S. Food and Drug Administration asked for late-stage data showing the vaccine's efficacy against the flu. The company had previously hoped to launch the vaccine for the autumn respiratory disease season in 2025 or 2026. Bancel in the memo reiterated the company's target to have eight more approvals for its products in the next three years.
Daily Mail
31-07-2025
- Business
- Daily Mail
Pharma industry latest to be hit by layoffs as industry giant announces sweeping jobs cull
Moderna is set to slash ten percent of its workforce this year, the pharmaceutical giant revealed on Thursday morning. The company - the maker of one of the most prevalent Covid-19 vaccines - now faces uncertainty as that market dwindles. The move, announced in an internal memo by CEO Stephane Bancel, is part of the company's previous plan to cut operating expenses by about $1.5 billion by 2027. 'We've made significant progress by scaling down R&D as respiratory trials conclude, renegotiating supplier agreements, and reducing manufacturing costs,' Bancel said in the memo. Moderna has been banking on revenue from newer mRNA shots, including its experimental COVID-flu combination vaccine, to make up for falling sales of its COVID-19 shot and less-than-expected uptake of its respiratory syncytial virus vaccine. However, investors have been concerned about the prospects of new shots and the changes in vaccine policy under U.S. Health Secretary and vaccine skeptic Robert F. Kennedy Jr.
