EC approves Moderna purchase deal for initial 80M doses of COVID-19 vaccine

 

• The European Commission (EC) has approved an agreement to secure 80M doses of Moderna's (NASDAQ:MRNA) COVID-19 vaccine candidate, mRNA-1273.
• Under the terms of proposed agreement, the EC has the option to increase their purchase of mRNA-1273, from 80M doses to a total of up to 160M doses.
• The agreement will be finalized following a brief review period.
• This announcement follows the conclusion of advanced exploratory talks with the EC that began on August 24, 2020.
• If approved, Moderna expects to begin shipping to the European Union in December 2020 with vaccine delivery as early as Q1 2021. The EMA human medicines committee (CHMP) started a rolling review of mRNA-1273 on November 17.
• “We have scaled up our manufacturing capacity outside of the U.S. with our strategic partners, Lonza and Rovi, to be able to deliver approximately 500 million doses per year and possibly up to 1 billion doses per year beginning in 2021, if approved,” said Stéphane Bancel, CEO.
• https://seekingalpha.com/news/3639345-ec-approves-modernas-purchase-deal-for-initial-80m-doses-of-covidminus-19-vaccine