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Moderna Inks Supply Pact Of 500M COVID-19 Vaccine Doses To COVAX Effort Starting Q4

  • Moderna Inc (NASDAQ: MRNA) has announced an agreement with vaccine promoter Gavi to supply up to 500 million doses of its COVID-19 vaccine to boost the global vaccination effort. Still, most of the shipments won’t arrive until next year.
  • Initially, 34 million doses will be delivered in the fourth quarter of 2021.
  • The company will supply as many as 466 million doses in 2022 and potentially provide access to shots adapted to fight variants of the coronavirus in the future.
  • The terms of the agreement with Gavi weren’t disclosed.
  • The advance purchase agreement comes just days after the World Health Organization announced emergency approval for the Moderna vaccine that will pave the way for its rollout in the U.N.-backed COVAX program.
  • The arrangement means that Moderna can join the COVAX rollout that already includes vaccines from OxfordAstraZeneca plc (NASDAQ: AZN), which has the biggest role so far in the program, and Pfizer Inc (NYSE: PFE) – BioNTech SE (NASDAQ: BNTX), which has committed far fewer doses to it.
  • Price Action: MRNA shares are up 2.3% at $183 in the premarket session on the last check Monday.

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