Moderna Inc said on Thursday it has agreed to push back some COVID-19 vaccine deliveries to the European Union by several months to later in 2022 or early next year.

Shares of Moderna fell nearly 2% before the bell over the delay. Even though the company stuck to its vaccine sales forecast of $21 billion for 2022.

Delivery of the doses originally planned in the second quarter, the European Commission said in a statement.

The bloc had also tweaked agreements with Pfizer Inc (PFE.N) and German partner BioNTech SE in April to delay vaccine deliveries by three months as it gears up for a potential booster campaign in the fall.

The region has also seen a drop in demand for COVID-19 vaccines.
The agreement helps “optimise supply arrangements and align them with current demand levels in our Member States. This statement was said by Stella Kyriakides, commissioner for Health and Food Safety.

-Punch.