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ASTRAZENECA SELLS STAKE IN MODERNA FOR MORE THAN $1 BILLION

AstraZeneca Plc has sold its 7.7% stake in Moderna Inc for more than $1 billion after the U.S. biotechnology company’s shares soared on the back of its coronavirus vaccine breakthrough,

It is  not clear over what period the  British-based AstraZeneca sold its holding in Moderna.

According to the report, AstraZeneca is retaining partnership with Moderna on other disease treatments and could sell its AstraZeneca/Oxford University Covid-19 vaccine on a commercial basis in future if the virus becomes endemic.

Moderna, whose vaccine is cleared for emergency use against Covid-19 in the United States, said last week it was expecting sales of $18.4 billion from its coronavirus vaccine this year.

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