Categories: Health

AstraZeneca rakes in $1 billion vaccine bonanza via sale of Moderna shares

<p>
AstraZeneca Plc has sold its 7.7% stake in Moderna Inc for more than $1 billion after the U.S. biotechnology company's shares shot up in the stock markets due to its breakthrough in the development of the Covid-19 vaccine, according to a report in The Times.</p>
<p>
The report added that it was not clear over what period UK pharma giant AstraZeneca sold its holding in Moderna.</p>
<p>
AstraZeneca is retaining partnership with Moderna on other disease treatments and could sell its AstraZeneca/Oxford University COVID-19 vaccine on a commercial basis in future if the virus becomes endemic, the report states.</p>
<p>
Moderna, whose vaccine is being used in the US and Europe to fight Covid-19  has said it expects sales to the tune of $18.4 billion from its coronavirus vaccine this year.</p>
<p>
Moderna and Pfizer are the two big vaccine makers in the US and have also stepped up supplies in Europe due to a delay in the AstraZeneca shots amid a surging pandemic. US regulators formally approved the single-shot Johnson & Johnson as the oronavirus vaccine for the country to fight the rapid spread of the deadly coronavirus pandemic that has already claimed over 5 lakh lives in the country.</p>
<p>
There is an acute shortage of vaccines worldwide and nations are struggling to source supplies.</p>
<p>
However, India has risen to the challenge and is making cheaper Covid vaccines available to the developing countries. The vaccines were gifted free to neighbouring countries for the inoculation of their frontline workers. They are also being exported to other countries at around $5 a dose compared with $19 a dose that the Moderna vaccine costs in the US.  India has already supplied 25 countries with vaccines while another 75 are in the queue.</p>

IN Bureau

Recent Posts

“Expressed serious concern for safety, well-being of Hindus and other minorities:” PM Modi after meeting with Bangladesh’s Yunus

Prime Minister Narendra Modi met the Chief Advisor of the government of Bangladesh, Muhammad Yunus…

4 minutes ago

Union Cabinet approves railway multitracking projects across Maharashtra, Odisha, Chhattisgarh for Rs 18,658 crore

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, has approved…

53 minutes ago

Sheikh Hasina’s extradition discussed during PM Modi, Muhammad Yunus’s meeting: Foreign secy Vikram Misri

Prime Minister Narendra Modi on Friday met with Bangladesh's chief advisor Muhammad Yunus for the…

1 hour ago

India committed to Myanmar’s aid in “short, medium and long term”, Envoy Thakur says

Ambassador of India to Myanmar, Abhay Thakur said on Friday that under Prime Minister Narendra…

2 hours ago

BNM announces global protests to highlight human rights violations in Balochistan

The Baloch National Movement (BNM) has declared a series of demonstrations in various countries to…

2 hours ago

PM Modi meets Bangladesh Chief Adviser Muhammad Yunus on sidelines of BIMSTEC Summit

Prime Minister Narendra Modi met Bangladesh Chief Adviser Muhammad Yunus on the sidelines of the…

4 hours ago