Moderna Talks Offer Hope for Enhanced COVID-19 Vaccine Availability In Europe

European countries are actively negotiating a fresh COVID-19 vaccine procurement agreement with Moderna Inc MRNA as concerns mount within EU health authorities regarding a surge in coronavirus infections. 

Member states can express their interest in the deal individually, and the Financial Times reported that at least eight EU countries have already shown interest in participating. 

This potential deal comes at a time when Pfizer maintains near-monopoly status on COVID-19 vaccine supplies in the EU. 

In May, the Commission and Pfizer agreed to reduce the number of vaccines supplied to the EU, alleviating tensions among member states overpaying for vaccines that might not be fully utilized.

The potential agreement would encompass the provision of vaccines until 2026, granting national health authorities the autonomy to select vaccine formulations for each season as the winter approaches. 

Vaccine manufacturers have been adapting their vaccines to address highly mutated subvariants of Omicron, the current dominant strain. 

Moderna asserts that this agreement would be the swiftest means of procuring COVID-19 vaccines for member-state use, especially with vaccination campaigns slated to commence in October.

While the price per jab is estimated to be around €25, it remains subject to finalization during negotiations. This price aligns with previous agreements.

Price Action: MRNA shares are up 1.10% at $99.25 on the last check Tuesday.