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Moderna Signs Vaccine Production Deal With South Korea's Samsung Biologics

Reuters

Last Updated: May 22, 2021, 23:10 IST

Representational image.

Representational image.

Moderna intends to supply these vaccines to markets outside of the United States starting in the third quarter of 2021, it said in a press release.

Moderna Inc (MRNA.O) said on Saturday it has entered into an agreement with Samsung Biologics Co Ltd(207940.KS), a deal which will allow the South Korean biopharmaceutical firm to produce the U.S. company’s mRNA vaccine.

Moderna intends to supply these vaccines to markets outside of the United States starting in the third quarter of 2021, it said in a press release .

The firm also signed two memoranda of understanding (MOU) with South Korea’s government, one with Korea National Institute of Health (KNIH) and another with Ministry of Trade and Industry and Energy of the Republic of Korea (MOTIE).

South Korea has secured access to 40 million doses of Moderna’s COVID-19 vaccine, Moderna said.

“We will continue to explore options for establishing potential local manufacturing opportunities in South Korea,” Moderna’s Chief Executive Stéphane Bancel said.

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first published:May 22, 2021, 23:10 IST
last updated:May 22, 2021, 23:10 IST