Moderna in Talks With China for Potential COVID-19 Vaccine Supply

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Moderna($NASDAQ:MRNA) is in talks with the Chinese government about supplying COVID-19 vaccines, but no decision has been reached, Moderna CEO Stephane Bancel said. Bancel declined to comment on whether Moderna had filed for approval of the vaccine in China, but noted that the company was open to supplying the vaccine and had the capacity to do so. The Chinese government has not yet approved any COVID-19 vaccines for use, though several companies are in the process of applying for approval.

Price History

The discussions are at an early stage and it’s unclear if a deal will be reached, the people said. Moderna’s stock rose 6.2% on Wednesday after Bloomberg News reported the talks. The U.S. Moderna has already started human testing of its vaccine candidate and is one of the frontrunners in the global race to find a vaccine. If a deal is reached, it would be a boost for Moderna’s efforts to scale up production of its vaccine and get it to market quickly. The company has said it could have a vaccine ready for emergency use by early next year.

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Summary

The U.S. biotechnology company is in discussions with Chinese officials and institutions about supplying the country with its experimental vaccine, the people said. It’s unclear how many doses China would purchase or at what price. The talks come as China is racing to secure supplies of potential COVID-19 vaccines amid a resurgence of the virus in the country. China has authorized emergency use of two vaccines, one developed by Sinopharm Group Co. and the other by CanSino Biotech Inc, but it’s unclear how many doses have been administered. Moderna’s vaccine is one of the most advanced in development and has been authorized for emergency use in the U.S. and Canada. This is likely due to investors betting that such an agreement would be a positive development for the company.