Moderna Updates Current Deal With Gavi Securing Access to COVID-19 Vaccines in Low-Income Countries

Moderna (NASDAQ: MRNA), announced on Monday that it has mutually agreed with Gavi, the Vaccine Alliance, to cancel the remaining pending orders under the current COVID-19 vaccine supply agreement for the rest of the year.

The biotechnology company developing messenger RNA (mRNA) therapeutics and vaccines, and Gavi have decided instead to create a new framework that would enable Gavi to purchase up to 100 million doses in 2023 on behalf of the COVAX Facility. This new framework will ensure access to updated variant-specific COVID-19 vaccines for low- and middle-income countries.