AstraZeneca Sells Moderna Stake for Over USD 1 Billion

Anglo-Swedish AstraZeneca Plc has sold its 7.7% stake in Moderna Inc for more than USD 1 billion after the American biotechnology company’s shares soared on the back of its coronavirus vaccine breakthrough, The Times reported.

The report added that it was not clear when and over what period AstraZeneca sold its full holding in Moderna, Reuters reports.

AstraZeneca is to remain partners with Moderna when it comes to the production of treatments for other diseases and might sell its COVID-19 vaccine, developed with the Oxford University, on a commercial basis in the future if the virus becomes endemic, the report added.

Moderna, whose coronavirus vaccine was cleared for U.S. emergency use in December, last week said it was expecting USD 18.4 billion in sales from the vaccine this year, Reuters adds.

AstraZeneca

Moderna

sale of a share

sale of a stake

coronavirus vaccine producers

Oxford University