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Friday, March 31, 2023

Takeda (NYSE: TAK) Intends To Gain Approval For Moderna’s COVID19 Vaccine

Takeda Pharmaceutical Company Limited (NYSE: TAK) disclosed Friday that it has requested regulators to give authorization for the use of the COVID-19 vaccine of Moderna Inc (NASDAQ: MRNA). The authorization of Moderna’s vaccine would enable it to be the third vaccine to include in a national administration struggle that commenced last month.

Presently, Takeda is managing all the national permission and imports of about 50 million Moderna doses. Previously, it has revealed that the authorization could be granted in May. TAK affirmed that it is currently endeavoring to supply the COVID-19 vaccine candidate of MRNA to Japan.

Takeda Pharmaceutical Company Limited (NYSE: TAK) shares were trading down 1.52% during the trading session of Thursday. Takeda Pharmaceutical Company Limited’s share price went from a low point around $12.43 to briefly over $20.00 in the past 52 weeks, though shares have since pulled back to $17.44. TAK’s market cap has stayed high, reaching $54.98 billion at the time of writing. If we look at the recent analyst rating TAK, Cowen initiated coverage on TAK shares with a Market Outperform rating.

Furthermore, In the mid of February, Japan has started the vaccination campaign using the vaccine of Pfizer Inc. But the doses of PFE’s vaccine are in short supply as it is imported from European Factories. Moreover, AZN has also submitted the request for its COVID-19 vaccine and still has not got a response.

Takeda is also handling the authorization process of nearly 250 million doses of the COVID-19 vaccine of Novavax. TAK is still waiting for the authority’s approval and has decided to start the dissemination of MRNA’s vaccine in Japan late last month. Japan has acquired rights to at least 564 million doses of COVID-19 vaccines from multiple overseas manufacturers.

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