Moderna CEO convinced to produce 500 million doses of COVID-19 vaccine in 2021

(Reuters) – Moderna Inc will be able to produce 500 million doses of its COVID-19 vaccine in 2021, CEO Stéphane Bancel said on Friday.

The company submitted emergency use authorization applications in the United States and the European Union after full results from an advanced-stage study showed the vaccine to be 94.1% effective without no serious security concerns.

“For $ 500 million, I’m very confident we’ll get there (2021),” Bancel said at the Nasdaq investor conference.

He also said the company would be able to maintain a top price of $ 37 for its vaccine doses, although the premium is expected to drop to $ 25 for high-volume supplies, like that of the U.S. government.

The Food and Drug Administration is scheduled to hold an advisory committee meeting on December 17 to discuss the company’s emergency clearance request for its COVID-19 vaccine.

Bancel said the company has seen renewed demand from many countries for additional doses after reporting clinical data.

Earlier on Friday, Moderna extended its contract with the Israeli Ministry of Health to provide an additional 4 million doses of its COVID-19 vaccine candidate.

The company announced Thursday that it will provide up to 125 million doses of the vaccine by the first quarter of 2021.