Moderna, Inc. (NASDAQ: MRNA) Stocks appear to be doing better and better, and the pre-market price action on Tuesday suggests a positive open for the fifth consecutive session.
What happened: Moderna, based in Cambridge, Mass., Said the Japanese Department of Health, Labor and Welfare and its Japanese partner Takeda Pharmaceutical Company Limited (NYSE: TAK) have agreed to purchase an additional 50 million doses of its COVID-19 vaccine and updated variant booster vaccine, subject to the latter’s approval.
Deliveries are expected to begin in 2022, Moderna said.
The new agreement is in addition to the previous contract to supply 50 million doses in 2021.
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Moderna will assume responsibility for manufacturing and sourcing, while Takeda and the Japanese government will handle import, local regulatory, development and distribution activities in Japan.
Why this is important: Moderna has entered into advance purchase agreements for the delivery of $ 19.2 billion in vaccine doses in 2021.
The COVID-19 vaccine is the company’s first commercial product.
With several variants emerging in different parts of the world, adoption is expected to continue to remain strong. Additionally, shooting has a potential opportunity in the endemic setting. All of this bodes well for Moderna.
In pre-market trading, Moderna shares rose 0.61% to $ 315.50.
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