AstraZeneca Plc sells 7.7% stake in Moderna Inc for more than $1B
Sale comes after shares soar following Covid-19 vaccine breakthrough
AstraZeneca Plc has sold its 7.7% stake in Moderna Inc for more than $1 billion after the U.S. biotechnology company’s shares soared on the back of its coronavirus vaccine breakthrough, The Times reported.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AZN | ASTRAZENECA PLC | 65.63 | +1.37 | +2.13% |
| MRNA | MODERNA INC. | 41.11 | +2.86 | +7.48% |
The report added that it was not clear over what period British-based AstraZeneca sold its holding in Moderna.
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AstraZeneca and Moderna did not immediately respond to requests for comment.
AstraZeneca Plc has sold its 7.7% stake in Moderna Inc for more than $1 billion after the U.S. biotechnology company’s shares soared on the back of its coronavirus vaccine breakthrough. (Melissa Melvin/AP Images for Tyson Foods File)
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 added.
Moderna, whose vaccine is cleared for emergency use against COVID-19 in the United States, said last week it was expecting sales of $18.4 billion from its coronavirus vaccine this year.