Moderna Inc. (NAS:MRNA) said Tuesday the European Union and European Economic Area countries have agreed to donate more than 70 million doses of the company's COVID-19 vaccine to the Covax program in 2021, helping the World Health Organization-backed organization deliver vaccines to low-income countries. The initiative was led by France, Sweden and Norway and includes an initial donation of 15 million doses from France and 40 million from Germany. Covax is co-led by Gavi, the Vaccine Alliance (Gavi), the Coalition for Epidemic Preparedness Innovations (CEPI) and the WHO and seeks to ensure vaccine supply for all countries, regardless of income levels. Moderna shares were down 1.1% premarket but have gained 125% in the year to date, while the SPDR S&P Biotech ETF (PSE:XBI) has fallen 12% and the S&p 500 (S&P:SPX) has gained 25%.
Nov. 16, 2021, 7:33 a.m. EST