Moderna Finalizes 10-Year Agreement With UK Government For mRNA Vaccine Manufacturing Centre

Moderna Inc MRNA has finalized a strategic partnership with the U.K. government to establish an mRNA vaccine research, development, and manufacturing facility in the U.K.
This milestone follows the agreement in principle between Moderna and the UK Government, announced in June 2022.
The Moderna Innovation and Technology Centre (MITC) is intended to provide access to a UK-made supply of COVID-19 jabs. It also has the potential to develop vaccines for other respiratory diseases, such as flu and respiratory syncytial virus.
Related: FDA Authorizes Pfizer/BioNTech And Moderna's Bivalent COVID Shots For 6 Months Old.
The government said the new facility would have the capacity to produce up to 250 million vaccines annually. It is expected to create over 150 highly-skilled jobs.
Construction of MITC is expected to commence in early 2023, with the first mRNA vaccine expected to be produced in the UK in 2025. The location of the facility is expected to be revealed in early 2023.
Price Action: MRNA shares are down 2.99% at $203.77 on the last check Thursday.