Moderna-Rovi Seal 10-Year Deal Extension To Make mRNA Drugs

Spain's Laboratorios Farmaceuticos Rovi SA has agreed on a 10-year extension to its deal with Moderna Inc 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.
• Also See: Pfizer, Moderna COVID-19 Boosters Effectiveness Wanes After Four Months: CDC Study.
• 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.
• Price Action: MRNA shares are down 2.15% at $147.87 during the premarket session on the last check Wednesday.