Moderna, US in Covid-19 vaccine deal for up to $1.5 billion

It’s the latest in a string of supply deals reached to stockpile the most advanced vaccines in testing. Moderna shares gained 8.5% to $74.80 in late trading in New York.

Moderna Inc. reached a deal with the US to manufacture and distribute 100 million doses of its experimental vaccine for Covid-19, in a pact valued up to $1.5 billion, the company said Tuesday.

Moderna shares gained 8.5% to $74.80 in late trading in New York.(REUTERS)

“I’m pleased to announce we’ve reached an agreement with Moderna to manufacture and deliver 100m doses of the coronavirus vaccine candidate,” President Donald Trump said at a White House briefing. “We’re on track to rapidly produce 100 million doses as soon as the vaccine is approved.”

It’s the latest in a string of supply deals reached to stockpile the most advanced vaccines in testing.

Moderna shares gained 8.5% to $74.80 in late trading in New York.