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

Comments
Loading...

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.
MRNA Logo
MRNAModerna Inc
$34.520.64%

Stock Score Locked: Want to See it?

Benzinga Rankings give you vital metrics on any stock – anytime.

Reveal Full Score
Edge Rankings
Momentum5.91
Growth13.85
Quality-
Value64.19
Price Trend
Short
Medium
Long
Market News and Data brought to you by Benzinga APIs

Posted In: