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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
