Zinger Key Points
- Moderna secures a multi-year agreement to supply its COVID-19 vaccine to 17 European countries, including Norway and North Macedonia.
- Vaccine formats include prefilled syringes, reducing administration errors and improving campaign efficiency.
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On Friday, Moderna, Inc. MRNA was awarded a tender to supply its mRNA COVID-19 vaccine in the European Union (EU).
What Happened: Seventeen participating countries—including Norway and North Macedonia—can access Moderna’s mRNA COVID-19 vaccine.
“Diversity of supply and availability of vaccine formats such as prefilled syringes are vital to help increase vaccination rates and enhance vaccination campaign efficiency, ultimately strengthening health security,” said Chantal Friebertshäuser, Senior Vice President, General Manager – Europe & Middle-East, Moderna.
Under the agreement, Moderna can provide its COVID-19 vaccine in several formats for up to four years.
In September, the European Commission (EC) granted marketing authorization for an updated formulation of Moderna’s COVID-19 mRNA vaccine Spikevax, targeting the SARS-CoV-2 variant JN.1, for individuals six months and older.
Why It Matters: Moderna witnessed a decline in its only approved product, Spikevax, the COVID-19 vaccine.
However, the company got some relief on higher third-quarter sales attributed to higher sales in the U.S. market following the earlier launch of the updated COVID-19 vaccine.
Moderna unveiled key updates at its annual R&D Day in September, spotlighting its mRNA-based pipeline and revised financial plans.
Faced with commercial challenges, Moderna is adopting a more selective approach to R&D investments. The company anticipates maintaining substantial R&D investment, especially in oncology and rare diseases, while pacing other expenditures.
Moderna is also facing several litigations, including the recently announced patent infringement lawsuit filed by Northwestern University. The lawsuit alleges that the pharmaceutical company used the university’s lipid nanoparticle (LNP) technology without permission to develop its COVID-19 vaccines.
Price Action: Moderna stock is up 0.35% at $42.56 at last check Friday.
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