MRNA · 10-Q · 2026Q2 · Full report

Distribution Channels

Moderna, Inc. · 2026-07-31 · Importance 6 · Surprise 6

Moderna sells its COVID and RSV vaccines to commercial customers, governments and international organizations. In the United States, sales are primarily made through wholesalers and distributors, with a smaller portion sold directly to retailers and healthcare providers. Wholesalers and distributors generally do not make upfront payments, and product sales are recorded net of chargebacks, prompt-payment and pre-order discounts, returns, rebates and other deductions. The channel structure places wholesalers and distributors at the center of U.S. vaccine distribution while retaining direct relationships with selected retailers and healthcare providers.