Moderna Strikes mRNA Drug Pact With Chinese Authorities: Report
Portfolio Pulse from Vandana Singh
Moderna Inc (NASDAQ:MRNA) has reportedly signed a deal with Chinese authorities to research, develop, and manufacture mRNA medicines in China. This agreement represents Moderna's first for developing mRNA medicines, not just COVID vaccines. The company has signed a memorandum of understanding and a related land collaboration agreement to develop drugs intended exclusively for the Chinese market. The size of the deal remains undisclosed, but it follows news that Moderna is planning its first investment in China, potentially valued at around $1 billion.
July 05, 2023 | 5:06 pm
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Moderna's deal with Chinese authorities to develop mRNA medicines in China could potentially boost the company's revenues and diversify its product portfolio beyond COVID vaccines. However, the financial details of the deal remain undisclosed.
The deal with China allows Moderna to expand its operations and diversify its product portfolio, which could potentially lead to increased revenues. However, the lack of financial details about the deal makes it difficult to accurately predict its impact on Moderna's stock price.
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