Business
Moderna Announces Update to 2022 Supply Agreement with Gavi that Secures Access to Updated Variant-Specific COVID-19 Vaccines for Low-and-Middle Income Countries
Given the sufficient supply of COVID-19 vaccines globally, Moderna & Gavi have mutually agreed to cancel remaining pending orders under the current COVID-19
About this update from Moderna, Inc.
[{"type":"text","content":"Given the sufficient supply of COVID-19 vaccines globally, Moderna & Gavi have mutually agreed to cancel remaining pending orders under the current COVID-19 vaccine supply agreement for 2022Gavi and Moderna have agreed to create a new framework that would enable Gavi to purchase up to 100 million doses of updated variant-specific COVID-19 vaccines in 2023, with all doses offered at Moderna's lowest-tiered priceCAMBRIDGE, MA / ACCESSWIRE / October 17, 2022 / Moderna, Inc. (NASDAQ:MRNA), a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines, and Gavi, the Vaccine Alliance, have mutually agreed to cancel remaining pending orders under the current COVID-19 vaccine supply agreement for 2022. Moderna's agreement with Gavi has led to the supply of nearly 70 million doses of COVID-19 vaccines to the 92 Gavi COVAX Advance Market Commitment (AMC) low- and middle-income countries, in addition to the Company facilitating the donation of more than 100 million doses to these countries. This has played a key role in ensuring that the global supply of COVID-19 vaccines is sufficient to underpin the overarching objective of supporting equitable, full vaccination of adult and adolescent populations globally.To ensure low- and middle-income countries have access to updated variant-specific COVID-19 vaccines, Gavi and Moderna will create a new framework enabling Gavi to purchase up to 100 million doses in 2023 on behalf of the COVAX Facility. All doses are offered at Moderna's lowest-tiered price.\"Gavi and our COVAX partners have been pivotal in ensuring the global supply of COVID-19 vaccines, leading the largest and most rapid vaccine rollout in history,' said Stéphane Bancel, Chief Executive Officer of Moderna. \"We are proud of our role in this endeavor and will continue to support COVAX's mission to ensure broad, affordable, and equitable access to COVID-19 vaccines across low- and middle-income countries as we move towards a world where COVID-19 is endemic.\"\"This agreement with Moderna represents a critical step for equitable access, helping COVAX adjust its portfolio to current demand and ensuring lower income countries have access to variant-containing vaccines to use where appropriate,\" said Dr Seth Berkley, CEO of Gavi, which leads procurement and delivery at scale for COVAX.About ModernaIn over 10 years sin...