Pharmaceutical companies have been making loads of money during this pandemic and this is not a secret anymore. Check out the latest reports coming from CNBC.
It’s been just revealed that Moderna CEO Stephane Bancel has sold $408 million in company stock since the beginning of the coronavirus pandemic. This is reportedly averaging roughly $3.6 million a week — as the company’s stock soared on the development and rollout of its Covid vaccine, according to CNBC’s analysis of the company’s securities filings.
The same article posted on the online publication mentioned that the Cambridge, Massachusetts, biotech company and its French CEO weren’t widely known outside biotech circles before the pandemic. However, they both became breakthrough success stories as Moderna rapidly developed its two-dose Covid vaccine in cooperation with the National Institutes of Health and with taxpayer backing through Operation Warp Speed.
Check out more details about this in the original article.
Moderna in the news
Moderna has something exciting for covid vaccine enthusiasts to put on the table these days. Check out the latest reports revealed by CNBC below.
It’s been just revealed that Moderna has reached a memorandum of understanding with Kenya to build a Covid vaccine manufacturing plant in the East African nation, the company announced Monday.
CNBC noted the following:
“Moderna plans to invest $500 million to produce messenger RNA, the technology underlying its Covid vaccines, at the facility with the goal of manufacturing 500 million doses annually. Moderna could fill Covid vaccine doses at the Kenya facility as early as 2023 subject to demand, according to the company.”
Reuters press agency noted that there is an Omicron-specific booster that could be ready by August, the CEO of U.S. biotech firm Moderna told Reuters.
It’s important to note that the company is still gathering clinical data to determine whether that vaccine would offer better protection than a new dose of the existing vaccine.