Spain's Laboratorios Farmaceuticos Rovi SA has agreed on a 10-year extension to its deal with Moderna Inc
(Get Free Alerts for MRNA) to manufacture future drugs developed with the mRNA technology used for its COVID-19 shot.- The new agreement includes a series of investments expected to increase manufacturing capacity across ROVI's facilities in Madrid, Spain.
- The companies did not disclose the investment amount.
- In addition to producing Moderna's COVID-19 vaccine, ROVI's platform could also be utilized to service future Moderna mRNA vaccine candidates.
- Moderna and Rovi are expected to finalize the agreement details in Q1 of 2022.
- Moderna also announced its plans to expand its commercial network across Asia with four new subsidiaries in Malaysia, Taiwan, Singapore, and Hong Kong.
- This expansion comes as the Company scales up the manufacturing and distribution of its COVID-19 vaccine and future mRNA vaccines and therapeutics.
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