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Moderna Secures New Supply Agreement With the Philippines For 7m Vaccine Doses

Sam Boughedda trader
Updated 22 Mar 2021

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Moderna (NASDAQ: MRNA) has announced that the Philippines has secured 7 million additional doses of its Covid-19 vaccine through a new supply agreement.

The new agreement brings the confirmed order commitment up to 20 million doses for the country following its initial procurement of 13 million at the beginning of March.

The 7 million additional doses were secured via a partnership with the private sector, Moderna said. Deliveries are expected to begin in mid-2021.

However, the vaccine is currently not approved for use in the country, although the company said they will work with regulators to pursue the necessary approvals before its distribution.

“We appreciate the continued confidence demonstrated by the government of the Philippines through this new agreement, as well as the support of the private sector, resulting in 20 million doses secured for the country,” said Stéphane Bancel, Chief Executive Officer of Moderna.

Moderna’s share price is trading 1.5% higher on Monday at $145.88.

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Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.