Moderna And Mitsubishi Tanabe Pharma Corporation Enter Joint Agreement to Promote Moderna’s mRNA Respiratory Vaccine Portfolio in Japan, Including COVID-19 Vaccines
Moderna and Mitsubishi Tanabe Pharma have signed a joint agreement to co-promote Moderna’s mRNA respiratory vaccine portfolio in Japan, including the COVID-19 vaccine, Spikevax®. Moderna will manage manufacturing, sales, medical education, and distribution, while both companies will work together to maximize public health impact in Japan. The agreement spans from now until March 31, 2029, with undisclosed financial terms. The partnership aims to leverage Mitsubishi Tanabe Pharma's extensive experience in the Japanese market.
- Moderna partners with Mitsubishi Tanabe Pharma to co-promote mRNA respiratory vaccines in Japan, enhancing market reach.
- Agreement includes promotion of Moderna's COVID-19 vaccine, Spikevax®, potentially increasing sales and revenue.
- The partnership, valid until March 31, 2029, provides a long-term strategic presence in the Japanese market.
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The joint agreement between Moderna and Mitsubishi Tanabe Pharma Corporation is a significant strategic move for both companies. By partnering with Mitsubishi Tanabe, Moderna aims to extend its footprint in the Japanese market, leveraging Mitsubishi's established presence and expertise in the local healthcare sector. This collaboration could potentially lead to increased revenues for Moderna, given Japan's substantial market for respiratory vaccines, especially in the context of COVID-19 and other respiratory diseases.
For investors, this agreement is noteworthy as it suggests a growth trajectory for Moderna in international markets, which can diversify its revenue streams and reduce dependency on the U.S. market. The absence of disclosed financial terms means investors will have to wait for quarterly reports to gauge the financial impact. However, the long-term nature of the agreement (up to March 31, 2029) indicates a sustained collaborative effort that could yield consistent returns over the period.
In the short term, investors should watch for any immediate market reactions, while in the long term, the deal's success will depend on the uptake of Moderna’s mRNA vaccines in Japan and the overall performance of the respiratory vaccine portfolio.
This partnership is a strategic alignment that could positively impact Moderna's market share in Japan. Mitsubishi Tanabe Pharma's established footprint and trusted brand in Japan provide an accelerated entry for Moderna's mRNA vaccine portfolio. This is critical as Japan continues to have high demand for COVID-19 vaccines and other respiratory illness vaccines.
For retail investors, this deal signals Moderna's ability to form strategic alliances that enhance market penetration without bearing the full burden of market entry costs and risks. It also highlights the potential for future collaboration in other regions, leveraging similar strategic partnerships. Understanding the dynamics and growth potential of the Japanese pharmaceutical market will be instrumental in assessing the long-term benefits of this deal.
Investors should keep an eye on the regulatory landscape and public health policies in Japan, as these will influence the adoption and sales of Moderna’s vaccines.
CAMBRIDGE, MA AND OSAKA, JAPAN / ACCESSWIRE / July 8, 2024 / Moderna, Inc. (Nasdaq:MRNA) and Mitsubishi Tanabe Pharma Corporation today announced that the companies have entered into a joint agreement regarding the co-promotion of Moderna's mRNA respiratory vaccine portfolio in Japan, including Moderna's COVID-19 vaccine, Spikevax®.
Under the agreement, Moderna will handle the manufacturing, sales, medical education and distribution of its mRNA respiratory vaccines. Both companies will engage in activities to enable broad access to Moderna's mRNA respiratory portfolio to have the maximum impact on public health in Japan. The agreement has an initial term until March 31, 2029 and no further details on the financial terms of the deal are being disclosed.
"We are pleased to partner with Mitsubishi Tanabe Pharma to enable the commercialization of our COVID-19 vaccine and future mRNA respiratory vaccine portfolio to the people of Japan," said Kazumasa Nagayama, President and Representative Director of Moderna Japan. "Mitsubishi Tanabe Pharma has a significant heritage in Japan and has long contributed to public health through numerous vaccines and possesses extensive experience and deep knowledge in this area. We look forward to working together to provide our COVID-19 vaccine in Japan, given the virus continues to pose a significant threat to public health."
Akihiro Tsujimura, Representative Director of Mitsubishi Tanabe Pharma, said, "Moderna has delivered COVID-19 vaccines to many people worldwide since the COVID-19 pandemic began. We are delighted to collaborate with Moderna and engage in commercial activities for the COVID-19 vaccine and other mRNA respiratory vaccines in Japan. We will continue to contribute to public health in Japan through our vaccine business."
About Moderna
Moderna is a leader in the creation of the field of mRNA medicine. Through the advancement of mRNA technology, Moderna is reimagining how medicines are made and transforming how we treat and prevent disease for everyone. By working at the intersection of science, technology and health for more than a decade, the company has developed medicines at unprecedented speed and efficiency, including one of the earliest and most effective COVID-19 vaccines.
Moderna's mRNA platform has enabled the development of therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases and autoimmune diseases. With a unique culture and a global team driven by the Moderna values and mindsets to responsibly change the future of human health, Moderna strives to deliver the greatest possible impact to people through mRNA medicines. For more information about Moderna, please visit modernatx.com and connect with us on X (formerly Twitter), Facebook, Instagram, YouTube and LinkedIn.
About Mitsubishi Tanabe Pharma
Mitsubishi Tanabe Pharma Corporation (MTPC), the pharma arm of Mitsubishi Chemical Group (MCG), is one of the oldest pharmaceutical companies in the world, founded in 1678, and focusing on ethical pharmaceuticals. MTPC is headquartered in Doshomachi, Osaka, the birthplace of Japan's pharmaceutical industry. MCG has positioned health care as its strategic focus in its management policy, "Forging the future". MTPC sets the MISSION of "Creating hope for all facing illness". To that end, MTPC is working on the disease areas of central nervous system, immuno-inflammation, diabetes and kidney, and cancer. MTPC is focusing on "precision medicine" to provide drugs with high treatment satisfaction by identifying patient populations with high potential for efficacy and safety. In addition, MTPC is working to develop "around the pill solutions" to address specific patient concerns based on therapeutic medicine, including prevention of diseases, pre-symptomatic disease care, prevention of aggravation and prognosis. For more information, go to https://www.mt-pharma.co.jp/e/
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding: Moderna Japan and Mitsubishi Tanabe Pharma Corporation entering into a joint agreement regarding the co-promotion of Moderna's mRNA respiratory vaccine portfolio in Japan and the terms of that agreement. The forward-looking statements in this press release are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond Moderna's control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks, uncertainties, and other factors include, among others, those risks and uncertainties described under the heading "Risk Factors" in Moderna's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and in subsequent filings made by Moderna with the U.S. Securities and Exchange Commission, which are available on the SEC's website at www.sec.gov. Except as required by law, Moderna disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release in the event of new information, future developments or otherwise. These forward-looking statements are based on Moderna's current expectations and speak only as of the date of this press release.
Moderna Contacts
Media:
International media
Luke Mircea-Willats
Senior Director, International Communications
Luke.mirceawillats@modernatx.com
Moderna Japan
Communications & Media
japan-pr@modernatx.com
Investors:
Lavina Talukdar
Senior Vice President & Head of Investor Relations
617-209-5834
Lavina.Talukdar@modernatx.com
Mitsubishi Tanabe Pharma Contacts
Media:
PR Group PR Department, Pharma Business Strategy Division
+81-6-6205-5119
SOURCE: Moderna, Inc.
View the original press release on accesswire.com
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