MRNA - Declining COVID-19 Vaccine Sales Pinches Moderna Pauses Kenya Vaccine Plant Plans | Benzinga
Famed COVID-19 vaccine maker Moderna Inc (NASDAQ:MRNA) has decided to pause its plans to construct a vaccine manufacturing plant in Kenya, signaling a shift away from investing in pandemic preparedness in Africa as demand for COVID-19 vaccines wanes.
“Moderna has not received any vaccine orders for Africa since 2022 and has faced the cancellation of previous orders, resulting in more than $1 billion in losses and write-downs,” it said.
Also Read: Moderna’s Next Gen COVID Vaccine Meets Primary Goal In Late-Stage Trial.
“Given this, and in alignment with our strategic planning, Moderna believes it is prudent to pause its efforts to build an mRNA manufacturing facility in Kenya,” the company said.
“This approach will allow Moderna to better align its infrastructure investments with ...