Moderna (NASDAQ: MRNA) has turned down China’s request to hand over the core intellectual property behind the development of its COVID-19 vaccine to China due to commercial and safety concerns, according to a Financial Times report.
As a result, the report stated that this led to a collapse of discussions of Moderna’s sale of the COVID-19 vaccine in China. However, the report added that the vaccine maker is still “eager” to sell the vaccine to China.
A Reuters report quoted Moderna Chief Medical Officer Paul Burton as saying back in September, “We would certainly be very eager to collaborate with China if they felt that there was a need for a vaccine there.”
What is the Stock Prediction for Moderna?
Analysts are cautiously optimistic about Moderna with a Moderate Buy consensus rating based on five Buys, four Holds, and one Sell. The average price forecast for MRNA stock is $214.63, implying an upside potential of 81.5%.
