Moderna To Build mRNA Vaccine Factory In Africa

Moderna Inc (NASDAQ:MRNA) plans to invest about $500 million to build a factory in Africa to make up to 500 million doses of mRNA vaccines at 50 µg dose level each year.
Moderna's proposed site will also include bottling and packaging capabilities. The Company said it would begin the process of deciding the country and location soon.
"We expect to manufacture our COVID-19 vaccine as well as additional products within our mRNA vaccine portfolio at this facility," CEO Stephane Bancel said in a statement.
Related: Sweden, Denmark Pause Use Of Moderna COVID-19 Shot In Younger Individuals: What You Need To Know.
Price Action: MRNA stock is down 1.43% at $298.09 during the premarket session on the last check Thursday.
Photo by torstensimon from Pixabay