Escalate Life Sciences
Spanish PM: Moderna to invest $523M into the country to boost vaccine production
While some countries are in the midst of ongoing negotiations with Covid-19 vaccine suppliers now that the supply of pandemic shots is starting to outweigh demand, Moderna is doubling down on production in a European nation — throwing more than half a billion dollars to start things off.
Moderna is investing 500 million euros into Spain — with the biotech confirming after Spain’s prime minister Pedro Sánchez tweeted out Tuesday.
A Moderna spokesperson told Endpoints News in a statement that “Moderna has a significant investment in the country through its manufacturing partnership with ROVI and footprint in Spain. In 2022, we expect this investment to be approximately $530 million.”
Moderna had previously announced a 10-year deal with Spanish CMO Rovi back in February to increase manufacturing capacity for Moderna’s Covid-19 vaccine Spikevax, and potentially utilize Rovi’s platform for future mRNA vaccine candidates. Financials of that February deal were not disclosed.
Beyond that — and mentioned by Sánchez — Moderna is planning on building a quality testing lab in the country for mRNA drugs. Without providing more details, a spokesperson said that the facility “is expected to be operational by 2023.”
Moderna has been busy elsewhere — unveiling plans to invest $500 million into a manufacturing plant in Africa last October and having inked deals with CDMOs such as Catalent and Lonza. However, these developments will be worth keeping an eye on as Switzerland just threw out more than 600,000 doses of Moderna’s Spikevax last month after they expired.
Published by Paul Schloesser, Associate Editor