Moderna and Canada agree to build manufacturing plant

Moderna said on Tuesday it had reached a deal with the Canadian government to build a “state-of-the-art” manufacturing plant in Canada to make Covid vaccines and potentially vaccines against other respiratory viruses after the country was in plagued by supply shortages earlier this year.

Factory aims to provide Canadians with access to domestically made mRNA vaccines against respiratory viruses, including Covid, seasonal influenza, respiratory syncytial virus and possibly other vaccines, pending clearance to exercise, said the US drug maker.

It is also intended to be used “urgently” to support the country with direct access to vaccines in the event of a health emergency, the company said.

Moderna said she was in talks with other governments for similar collaborations.

“We are delighted to expand our presence and continue our long-term collaboration with Canada,” said Patricia Gauthier, Head of Canadian Operations for Moderna, in a statement. “With our cutting-edge mRNA technology platform and rapid drug development capabilities, we look forward to actively participating in Canada’s strong life science ecosystem. “

Canada has suffered from repeated delays and supply shortages of Covid vaccines this year as it struggled to obtain vaccines from other countries that made them. The problem has forced the government to delay second injections for up to 16 weeks and advise residents to “mix and match” vaccines.

The Biden administration, under pressure from allies around the world to share vaccines, in March announced plans to ship around 4 million doses of AstraZeneca’s Covid vaccine that it was not using to Mexico and the United States. Canada.

The supply of vaccines and the pace of inoculations have since increased, Canadian health officials said, and residents have since received their second dose.

Moderna shares were down around 3% on Tuesday just before the announcement. The stock is up more than 360% since the start of the year.