Shares of Moderna (NASDAQ: MRNA) rose on Wednesday after fellow drugmaker Pfizer (NYSE: PFE) reported strong sales of its COVID-19 vaccine and raised its full-year revenue forecast. As of 3:30 p.m. EDT, the biotechnology company's stock price was up more than 6%.
Pfizer generated $7.8 billion in coronavirus-related revenue in the second quarter. The healthcare giant now expects to deliver 2.1 billion doses and earn $33.5 billion in COVID-19 vaccine revenue in 2021, up from its prior estimate of $26 billion.
Investors bid up Moderna's shares following Pfizer's solid Q2 results. Image source: Getty Images.
Source Fool.com