{"id":108275,"date":"2021-03-01T13:41:02","date_gmt":"2021-03-01T13:41:02","guid":{"rendered":"https:\/\/fin2me.com\/?p=108275"},"modified":"2021-03-01T13:41:02","modified_gmt":"2021-03-01T13:41:02","slug":"astrazeneca-sold-out-of-vaccine-maker-moderna-last-year","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/astrazeneca-sold-out-of-vaccine-maker-moderna-last-year\/","title":{"rendered":"AstraZeneca sold out of vaccine maker Moderna last year"},"content":{"rendered":"

(Reuters) – AstraZeneca sold a stake it held in rival COVID-19 vaccine maker Moderna over the course of last year, the Anglo-Swedish drugmaker\u2019s latest annual report shows.<\/p>

FILE PHOTO: The AstraZeneca logo is pictured outside the AstraZeneca office building in Brussels as part of the coronavirus disease (COVID-19) vaccination campaign, Belgium, January 28, 2021. REUTERS\/Johanna Geron<\/figcaption>

London-listed AstraZeneca did not specify how much it sold the stake for, but said that \u201ca large proportion\u201d of the $1.38 billion it recorded in equity portfolio sales last year came from the Moderna disposal.<\/p>\n

Moderna, whose coronavirus vaccine was cleared for U.S. emergency use in December, last week said it was expecting $18.4 billion in sales from the vaccine this year, putting it on track for its first profit since its founding in 2010.<\/p>\n

AstraZeneca initially invested in Moderna in 2013, paying it $240 million upfront and later building up its stake as it bet on newer technologies to offset losses from patent expiries. (bit.ly\/3kwJ1UM)<\/p>\n

Shares in Texas-based Moderna, which listed in 2018, surged more than five times in value last year after starting development of its COVID-19 vaccine and receiving its first approval within the span of a few months.<\/p>\n

Moderna\u2019s shot uses a new technology called mRNA, which relies on synthetic genes to send a message to the body\u2019s immune system to build immunity and can be produced at scale more rapidly than conventional vaccines like AstraZeneca\u2019s.<\/p>\n

Cambridge, England-based AstraZeneca\u2019s vaccine being developed with Oxford University uses a weakened version of a chimpanzee common cold virus to deliver immunity-building proteins to the body.<\/p>\n

AstraZeneca’s stake in Moderna stood at 7.65% at the end of 2019, its annual report for that year showed. (bit.ly\/3dTqn8x)<\/p>\n

Based on Moderna\u2019s 2020 closing stock price of $104.47, a stake that size would be worth about $3.2 billion, Reuters calculations show.<\/p>\n

Moderna shares were up about 2.5% in U.S. premarket trading on Monday. AstraZeneca shares were up 0.6% at 69.9 pounds in London.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) – AstraZeneca sold a stake it held in rival COVID-19 vaccine maker Moderna over the course of last year, the Anglo-Swedish drugmaker\u2019s latest annual […]<\/p>\n","protected":false},"author":3,"featured_media":108274,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"\nAstraZeneca sold out of vaccine maker Moderna last year - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/astrazeneca-sold-out-of-vaccine-maker-moderna-last-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AstraZeneca sold out of vaccine maker Moderna last year - Fin2me\" \/>\n<meta property=\"og:description\" content=\"(Reuters) – AstraZeneca sold a stake it held in rival COVID-19 vaccine maker Moderna over the course of last year, the Anglo-Swedish drugmaker\u2019s latest annual [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/business\/astrazeneca-sold-out-of-vaccine-maker-moderna-last-year\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-01T13:41:02+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/03\/cnewsfotor59.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/business\/astrazeneca-sold-out-of-vaccine-maker-moderna-last-year\/\",\"url\":\"https:\/\/fin2me.com\/business\/astrazeneca-sold-out-of-vaccine-maker-moderna-last-year\/\",\"name\":\"AstraZeneca sold out of vaccine maker Moderna last year - 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