US boosts funds in Moderna COVID-19 vaccine contract to $1.25 bn; Israel strikes new deal

Pharmaceutical company Moderna Inc on Wednesday announced that US has expanded funding in its COVID-19 vaccine agreement from $236 million to $1.25 billion to assist firm with ditional costs for trials and research. Moderna and Biomedical vanced Research and Development Authority (BARDA) h initially reached a deal worth $483 million in July, 2020. In its regulatory filing, company stated that as of March 31, 2021, funding net of revenue earned under BARDA Contract was $317 million, prior to increase in funds on contract.  

Moreover, Moderna struck a new agreement with Sanofi to manufacture its messenger RNA (mRNA) rapeutics, vaccines, sterile manufacturing services, and supply packaging for up to 200 million doses to be supplied to US beginning in September 2021. In August last year, Biden ministration struck a $1.53 billion deal with Moderna to procure 100 million doses and flexibility in agreement to purchase 400 million more doses. A new research by US CDC found that single dose of Moderna’s COVID-19 vaccine was 80 percent effective in preventing infections. It ded that  vaccines’ effectiveness jumped to 90 percent nearly two weeks after individual was ministered with  second shot. 

We welcome opportunity to work with Sanofi on fill/finish manufacturing for Moderna COVID-19 Vaccine in  U.S. We would like to thank  Department of Health and Human Services and  Biden ministration for ir assistance in securing this ditional capacity, said Juan Andres, Moderna’s Chief Technical Operations and Quality Officer.

This ditional production will help us continue to scale up our manufacturing capacity in United States.

New supply agreement with Israel

Last week, Moderna announced a new supply agreement with Israel for year 2022. Under terms of agreement, Israel was also given an option to purchase doses of one of Moderna’s variant-specific vaccine candidates subject to regulatory approval. Israel h struck two deals to procure a total of 10 million doses of Moderna’s COVID-19 Vaccine. Israeli Ministry of Health h authorized COVID-19 Vaccine Moderna for use on January 4, 2021. “We appreciate continued confidence and collaboration with  Israel Ministry of Health with this new agreement,” said Stéphane Bancel, Chief Executive Officer of Moderna. “This is an important moment for our company as first firm order for 2022 supply and for supply of our variant-specific booster vaccine candidates against COVID-19,” he ded.