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Moderna CEO confident of producing 500 million COVID-19 vaccine doses in 2021

Stock MarketsDec 04, 2020 10:32PM ET
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© Reuters. FILE PHOTO: FILE PHOTO: Vials and medical syringe are seen in front of Moderna logo in this illustration

By Mrinalika Roy and Trisha Roy

(Reuters) - Moderna (NASDAQ:MRNA) Inc will be able to produce 500 million doses of its COVID-19 vaccine in 2021, Chief Executive Officer Stéphane Bancel said on Friday.

The company has submitted applications seeking emergency use authorization in the United States and the European Union after full results from a late-stage study showed the vaccine was 94.1% effective with no serious safety concerns.

"For 500 million, I am very comfortable we are gonna get there (2021)," Bancel said at the Nasdaq Investor Conference.

He also said the company would be able to maintain a premium price of $37 for its vaccine doses, although the premium is expected to fall to $25 for big-volume supplies, such as the one to the U.S. government.

The Food and Drug Administration is set to hold an advisory committee meeting on Dec. 17 to discuss the company's request for emergency authorization for its COVID-19 vaccine.

Bancel said the company has seen renewed demand from many countries seeking additional doses after it reported clinical data.

Earlier on Friday, Moderna extended its contract with the Israeli health ministry to supply an additional 4 million doses of its COVID-19 vaccine candidate.

The company said on Thursday it would supply up to 125 million doses of the vaccine by the first quarter of 2021.

Moderna CEO confident of producing 500 million COVID-19 vaccine doses in 2021
 

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Comments (1)
JR Bob Dobbs
JR Bob Dobbs Dec 04, 2020 1:10PM ET
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This is hugely bullish for stock price
Marek Finta
Marek Finta Dec 04, 2020 1:10PM ET
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True
 
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