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 | 67.20 | +0.84 | +1.27% |
MRNA | MODERNA INC. | 43.39 | +1.34 | +3.19% |
The report added that it was not clear over what period British-based AstraZeneca sold its holding in Moderna.
AMID VACCINE DELAYS, ASTRAZENECA MAY HAVE BREACHED EU CONTRACT OVER COVID-19 SHOTS
AstraZeneca and Moderna did not immediately respond to requests for comment.
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.