Covid-19 Vaccine Deal: After Merck, AstraZeneca Plc Sells Stake In Moderna, Says Report

Covid-19 Vaccination: In December 2020, Merck & Co. also sold its Moderna Inc stake amid the development of its Covid-19 vaccine while the latter aims to achieve $18.4 billion through sale of coronavirus vaccine this year.

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AstraZeneca Plc, the pharma company which has last week received interim recommendations from the World Health Organisation for use of its Covid-19 vaccine, has sold its 7.7% stake in Moderna Inc for more than $1 billion. 

As per The Times report, the company sold its stake after the US biotechnology company’s shares climbed on the back of its coronavirus vaccine breakthrough.
However, it is still not clear over what period British-based AstraZeneca sold its holding in Moderna.

As per the report, AstraZeneca continues to retain a partnership with Moderna on other disease treatments and could sell its AstraZeneca/Oxford University Covid-19 vaccine on a commercial basis in the future if the virus becomes endemic.

In December 2020, Merck & Co. also sold its stake in Moderna Inc amid the development of its Covid-19 vaccine. On the other hand, Moderna, whose vaccine has been cleared for emergency use in the United States, aims to achieve $18.4 billion through the sale of the coronavirus vaccine this year.

In the race for developing vaccination, Moderna issued preliminary data of its vaccine, suggesting an efficacy rate of 94.5 per cent in November. It was authorized by the FDA on December 19. In the same month later, AstraZeneca and the University of Oxford announced high-level results from an interim analysis of their COVID-19 vaccine, AZD1222. The results of the trials in the UK and Brazil demonstrated the efficacy of up to 90 per cent.

Last week health authorities in some European countries were facing resistance to AstraZeneca's vaccine after the side-effects in the hospital staff and other front-line workers have burdened the already-stretched services. In view of the latest AstraZeneca shot being rolled out in Europe, health authorities in France issued guidance to stagger giving the shot while two regions in Sweden have halted the vaccination process while some essential workers in Germany are refusing it, as per the news agency Reuters.