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

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© Reuters. The AstraZeneca office building in Brussels

(Reuters) – AstraZeneca (NASDAQ 🙂 Plc sold its 7.7% stake in Modern (NASDAQ 🙂 Inc for more than $ 1 billion after the US biotech company’s shares skyrocketed following the breakthrough of its coronavirus vaccine, 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.

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