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

Moderna Inc 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 Oxford-AstraZeneca plc AZN, which has the biggest role so far in the program, and Pfizer Inc PFE - BioNTech SE 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.