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Benzinga
Benzinga
Technology
Vandana Singh

Moderna To Set Up mRNA Vaccine Manufacturing Facility In Kenya

  • Moderna Inc (NASDAQ:MRNA) would set up a manufacturing facility in Kenya, its first in Africa, to produce messenger RNA (mRNA) vaccines, including COVID-19 shots.
  • Moderna expects to invest about $500 million in the Kenyan facility and supply as many as 500 million doses of mRNA vaccines to the continent each year. 
  • It also has plans to start filling doses of its COVID vaccine in Africa as early as 2023.
  • Related: Moderna To Build mRNA Vaccine Factory In Africa.
  • The company said that Moderna's Kenyan facility would manufacture drug substances and could be expanded to include fill/finish and packaging capabilities.
  • Moderna's COVID vaccine brought in $17.7 billion in sales in 2021.
  • Also See: Arbutus Hits Moderna With New Suit Claiming COVID-19 Vaccine Patent(s).
  • The company is developing several other vaccines based on mRNA technology, including respiratory syncytial virus, HIV, and shingles.
  • Price Action: MRNA shares are down 6.35% at $127.80 during the market session on the last check Monday.
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