First, let's consider Moderna's orders this year for regular vaccine doses.
That means Moderna may be on its way to supplying at least 400 million booster doses.
so far has ordered 300 million doses of Moderna's vaccine.
If the government aims to provide a booster for each vaccine recipient, it would then order 150 million booster doses.
So, whether full vaccinations are needed yearly or not, Moderna still could bring in billions in revenue next year and beyond.
Moderna's CEO Stephane Bancel said earlier this year that the two-dose vaccine may provide protection for a couple of years.I wouldn't worry if Moderna generates more revenue in certain years due to big vaccine orders and less the following year if governments don't need to order for full vaccinations of their populations.