Moderna Adjusted Manufacturing Amid Declining Revenue
The biotech firm has shifted its production strategy to maintain supply chain security as revenues contract.
Updated on Oct. 7, 2026 in Healthcare
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Moderna has recalibrated its manufacturing operations following a 40% year-on-year revenue decline in 2025. The company currently utilizes a hybrid model that keeps drug substance manufacturing internal while outsourcing drug product packaging.
Why it matters
Operators face significant pressure when scaling down operations after a period of rapid growth. Moderna is prioritizing supply chain security by retaining internal control over drug substance production despite a broad contraction in government mRNA project funding.
Moderna reported $1.9 billion in total 2025 revenue, a 40% decline from the prior year. This follows the height of its growth, when Spikevax sales reached $17.7 billion in 2021 and $18.4 billion in 2022.
The players
Moderna
A biotechnology company focused on mRNA-based therapeutics and vaccines with a global manufacturing network.
Michelle Rodriguez
An executive at Moderna who outlined the company's current manufacturing and production strategy.
The details
Moderna manages production capacity through a network of international centers and contract development and manufacturing organizations (CDMOs). While drug substances are manufactured internally to protect supply chain security, the firm relies on external partners for final product packaging. This hybrid model was further adjusted with the addition of a new manufacturing facility in the UK in 2025 to optimize global distribution.
Timeline
Spikevax received its first approval in 2021.
The US government cut funding for 20 mRNA projects in 2025.
mRESVIA was approved for use in the US and Europe in 2024.
Mflusiva gained US and European regulatory approval in 2026.
CPHI Milan 2026 occurred from October 6 to October 8, 2026.
Market Landscape
Moderna's pivot follows the 2025 federal funding cuts for mRNA vaccine projects which forced a broader industry consolidation. This move signals a departure from the pandemic-era expansion of mRNA pipelines toward a more concentrated, supply-chain-focused operational model.
Operators should monitor how their supply chain partners manage capacity when demand forecasts shift from pandemic-era surges. Maintaining internal control over critical components may offer the necessary flexibility to sustain margins during significant revenue contractions.
The takeaway
Operational resilience in biotech requires a balance between proprietary manufacturing and outsourced scale. Closely track your company's core competency versus what can be offloaded to third-party partners as market demand stabilizes.
Further reading
For more on industry shifts, visit our Healthcare section.
Source note: This article includes information reported by Pharmaceutical Technology.
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