By Sam Boughedda
Investing.com — Moderna Inc (NASDAQ:MRNA) said Friday that it has agreed with the Covax vaccine alliance to supply an additional 116.5 million doses of its Covid-19 vaccine.
Moderna will deliver the vaccines in the second quarter of 2022. The alliance is an initiative to ensure equal access to Covid vaccines for all countries.
The agreement represents almost double the amount of an earlier deal for 60 million doses of the vaccine.
Gavi signed an advanced purchase agreement on behalf of the alliance, which allows it to retain the option to procure 233 million additional doses in 2022 for a potential total of 500 million doses between 2021 and 2022.
All of the doses agreed upon are at Moderna's lowest tiered price.
“This is another important milestone as we work to ensure that people around the world have access to our COVID-19 vaccine,” said Stéphane Bancel, CEO of Moderna.
Moderna shares are down 2.4% at $339.50.