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Moderna Announces Supply Agreement with the UK for Additional 60 Million Doses of Moderna’s COVID-19 Vaccine in 2022 and 2023
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Rhea-AI Summary
Moderna (NASDAQ: MRNA) has announced a revised supply agreement with the UK government for up to 60 million doses of its COVID-19 vaccine. The delivery schedule includes 29 million doses in 2022 and 31 million in 2023, with a provision for the UK to increase or decrease orders by 20%. CEO Stéphane Bancel expressed gratitude for the UK government's support, emphasizing ongoing efforts to combat the pandemic. The agreement underscores Moderna's rapid scaling capabilities and its collaborative approach to vaccine distribution.
Positive
Secured a revised agreement for up to 60 million vaccine doses with the UK government.
Potential for UK to increase orders by up to 20%, indicating strong demand.
Negative
UK government retains the right to decrease orders by up to 20%, which may impact revenue.
Agreement includes 29 million doses for delivery in 2022 and 31 million doses for delivery in 2023
CAMBRIDGE, Mass.--(BUSINESS WIRE)--
Moderna, Inc. (Nasdaq: MRNA), a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines, today announced a revised supply agreement with the UK government for up to 60 million doses of Moderna’s COVID-19 vaccine, which may include authorized booster vaccine candidates, with up to 29 million doses expected to be delivered in 2022 and up to 31 million doses expected to be delivered in 2023. Under the agreement, the UK government retains a right to increase its purchases in 2022 and 2023 by up to 20% above the contracted volumes, or to decrease by the same amount.
“We thank the UK government for their support in this supply agreement for our mRNA COVID-19 vaccine and booster candidates, if approved, in 2022 and 2023,” said Stéphane Bancel, Moderna’s Chief Executive Officer. “This agreement reflects the efforts of the UK government to address the ongoing pandemic and builds on our existing collaboration to protect people in the UK.”
About Moderna
In 10 years since its inception, Moderna has transformed from a science research-stage company advancing programs in the field of messenger RNA (mRNA), to an enterprise with a diverse clinical portfolio of vaccines and therapeutics across six modalities, a broad intellectual property portfolio in areas including mRNA and lipid nanoparticle formulation, and an integrated manufacturing plant that allows for both clinical and commercial production at scale and at unprecedented speed. Moderna maintains alliances with a broad range of domestic and overseas government and commercial collaborators, which has allowed for the pursuit of both groundbreaking science and rapid scaling of manufacturing. Most recently, Moderna’s capabilities have come together to allow the authorized use of one of the earliest and most-effective vaccines against the COVID-19 pandemic.
Moderna’s mRNA platform builds on continuous advances in basic and applied mRNA science, delivery technology and manufacturing, and has allowed the development of therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases, cardiovascular diseases and auto-immune diseases. Moderna has been named a top biopharmaceutical employer by Science for the past seven years. To learn more, visit www.modernatx.com.
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 regarding: the Company’s development of a vaccine against COVID-19 (mRNA-1273); contracts to sell mRNA-1273 or other COVID-19 vaccine boosters to the UK government; the timing for those sales; and the potential for the UK government to exercise options for the purchase of additional doses. 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 those other risks and uncertainties described under the heading “Risk Factors” in Moderna’s most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (SEC) and in subsequent filings made by Moderna with the SEC, 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 hereof.
