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Aug 24, 2020

Moderna plans to supply 80 million doses of COVID vaccine to EU

'Slow and steady' is the way to go in race for a COVID-19 vaccine: Ian Bremmer

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Moderna Inc. said it plans to provide 80 million doses of its experimental coronavirus shot to the European Union following a string of supply deals between vaccine developers and governments.

The U.S. biotech company has finished talks with the European Commission over a potential agreement, which includes an option for EU member states to purchase an additional 80 million doses, according to a statement Monday.

The European Union, the U.S. and U.K. have led the way in snapping up doses of potential COVID immunizations in advance of knowing which vaccines will work and get across the finish line. The need for a vaccine is rising with the number of global coronavirus deaths surpassing 800,000.

Moderna’s final-stage study began on July 27 and enrollment of about 30,000 subjects is on track to be completed in September, it said. The company is scaling up global manufacturing to be able to deliver about 500 million doses and possibly as many as 1 billion doses per year, beginning in 2021.

The commission previously announced preliminary plans to secure hundreds of millions of doses of vaccines being developed by the likes of Johnson & Johnson, AstraZeneca Plc with the University of Oxford, Sanofi and partner GlaxoSmithKline Plc, as well as CureVac NV.

Moderna shares gave up early gains, trading 1.3 per cent lower in New York.