Moderna To Construct Manufacturing Facility In Australia Under New Strategic Partnership

Moderna Inc (NASDAQ: MRNA) is officially going to the land down under. The company late last night announced that it has finalized a strategic partnership with the Australian federal government that will see a manufacturing facility for mRNA vaccines established within the country.

The strategic partnership is said to be for an initial ten year period, with construction to begin on the facility by the end of this year. It is currently anticipated that construction will be completed by the end of 2024, at which time the facility is expected to become operational, subject to regulatory approvals.

The new facility is to be constructed in Melbourne, Australia, and is to provide the country with locally manufactured mRNA vaccines intended to be used against COVID-19, seasonal influenza, RSV, and other respiratory viruses. Current capacity plans call for up to 100 million mRNA vaccine doses to be produced on an annual basis.

Reciprocally, the company will also support mRNA research and development within the country, and has agreed to establish a regional research centre for tropical diseases and respiratory medicines.

It is currently expected that the move will assist in developing a “world-class mRNA industry” within the country.

Separately, the firm this morning indicated it is moving forward with regulatory submissions for vaccinations in children under 6 against COVID-19. The firm has also received a total of $21 billion in advance purchase agreements for vaccines in its current portfolio.

“We are focused on unmet vaccine needs for respiratory viruses, latent viruses, and persistent global health threats. Importantly, we also continue to advance a range of COVID-19 vaccine options for adults, adolescents, and pediatric populations,” said CEO Stephen Bancel

Moderna last traded at $178.73 on the Nasdaq.


Information for this briefing was found via Moderna and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Gold is Up 30%, But the Real Bull Market is Only Starting Now! | Adrian Day

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

Moderna Expands Manufacturing Abilities In Spain, Steps Into New Asian Markets

Moderna Inc (NASDAQ: MRNA) is looking to scale up the production of its mRNA vaccines...

Wednesday, February 16, 2022, 08:30:24 AM

Moderna Shares Jump After Announcing Q4 2021 Earnings, US$19 Billion Advanced Sales

Moderna Inc (Nasdaq: MRNA) announced this morning its Q4 and full-year 2021 earnings. The vaccine manufacturer...

Thursday, February 24, 2022, 10:51:00 AM

Moderna and Merck & Co: mRNA Cancer Vaccine Shows “Highly Encouraging Results,” Shares Rise

On Tuesday, Moderna (NASDAQ: MRNA) announced that their personalized cancer-vaccine program was successful in a...

Wednesday, December 14, 2022, 01:06:00 PM

Internal Moderna Report Tags Elon Musk, Novak Djokovic, and Russell Brand as ‘High Risk’

Moderna (NASDAQ: MRNA), the Boston-based pharmaceutical company known for its mRNA Covid-19 vaccine, has reportedly...

Tuesday, November 28, 2023, 01:06:00 PM

Moderna Shares Soar As Company Announces $3 Billion Stock Buyback

Moderna Inc (NASDAQ: MRNA) shares on Wednesday soared as high as 17% after it announced...

Thursday, August 4, 2022, 08:26:43 AM