AstraZeneca sold its stake in Moderna for over $ 1 billion: The Times

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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

(Reuters) – AstraZeneca Plc has sold its 7.7% stake in Moderna Inc for more than $ 1 billion after the shares of the US biotech company skyrocketed following the breakthrough of its vaccine against coronavirus, the Times reported.

The report adds that it is not clear over what period UK company AstraZeneca sold its stake in Moderna.

AstraZeneca and Moderna did not immediately respond to requests for comment.

AstraZeneca maintains its partnership with Moderna on other treatments for the disease and may sell its AstraZeneca / University of Oxford COVID-19 vaccine in the future if the virus becomes endemic, the report adds.

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

Report by Maria Ponnerhath in Bengaluru; Edited by Jonathan Oatis and Peter Cooney

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