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Friday, January 27, 2023

Moderna (NASDAQ: MRNA) Sign MoU to Supply 110M COVID-19 Vaccine Doses to the African Union

Moderna, Inc. (NASDAQ: MRNA) disclosed that it has inked an MoU for the supply of its COVID-19 vaccine. As per the MoU, Moderna will deliver 110 million doses of the Moderna COVID-19 vaccine available to the African Union. This is the first step of Moderna to maintain its long-term collaboration with the African Union.

Moderna contemplates that its vaccine can play a crucial role in fulfilling the needs of low-income countries given its combination of high Phase III efficacy against COVID-19, strong durability in the real-world evidence, and superior storage and handling conditions. The company disclosed that it has discovered the fact that many countries are facing difficulty in accessing the COVID-19 vaccine. So, the firm is trying to help as many people as possible all around the globe.

As per the MoU, MRNA is ready to supply the first 15 million doses in the Q4 of 2021, 35 million doses in the first quarter of 2022, and more than 60 million doses in Q2 2022. All doses are presented at Moderna’s lowest tiered price. It is consistent with the global access commitments of MRNA.

Furthermore, MRNA is also striving on plans to allow it to fill doses of its COVID-19 vaccine in Africa as early as 2023, in line with building an mRNA vaccine manufacturing facility in Africa. This new MoU would be in addition to Moderna’s pact with COVAX to deliver up to 500 million doses of its COVID-19 vaccine from the Q4 of 2021 through 2022.

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