AstraZeneca sells stake in Moderna for more than $1 billion: Report

WION Web Team
NEW DELHI Published: Mar 01, 2021, 11.49 AM(IST)

Representative image Photograph:( Reuters )

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AstraZeneca is retaining a partnership with Moderna on other disease treatments and could sell its AstraZeneca/Oxford University COVID-19 vaccine on a commercial basis in future if the virus becomes endemic, the report added.

British–Swedish multinational pharmaceutical and biopharmaceutical company, AstraZeneca Plc sold 7.7 per cent of its stake in American pharmaceutical and biotechnology company Moderna Inc for more than $1 billion after its shares soared on the back of its coronavirus vaccine breakthrough, The Times reported.

Also read: Moderna expects $18.4 billion in COVID-19 vaccine sales in 2021

The shares of the US-based biotechnology company, Moderna, witnessed a rise in shares after it developed a vaccine for COVID-19.

The report added that it was not clear over what period British-based AstraZeneca sold its holding in Moderna. AstraZeneca and Moderna did not immediately respond to requests for comment.

AstraZeneca is retaining a partnership with Moderna on other disease treatments and could sell its AstraZeneca/Oxford University COVID-19 vaccine on a commercial basis in future if the virus becomes endemic, the report added.

Moderna, whose vaccine is cleared for emergency use against COVID-19 in the United States, said last week it was expecting sales of $18.4 billion from its coronavirus vaccine this year.

In December 2020, Merck sold its stake in Moderna Inc., the biotechnology company, in the midst of developing a COVID-19 vaccine. Merck sold its direct equity investment in Moderna during the first half of the fourth quarter.

(With inputs from agencies)

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