Moderna To Set Up mRNA Vaccine Manufacturing Facility In Kenya - Moderna (NASDAQ:MRNA)

Moderna Inc MRNA would set up a manufacturing facility in Kenya, its first in Africa, to produce messenger RNA (mRNA) vaccines, including COVID-19 shots.
Moderna expects to invest about $500 million in the Kenyan facility and supply as many as 500 million doses of mRNA vaccines to the continent each year.
It also has plans to start filling doses of its COVID vaccine in Africa as early as 2023.
Related: Moderna To Build mRNA Vaccine Factory In Africa.
The company said that Moderna's Kenyan facility would manufacture drug substances and could be expanded to include fill/finish and packaging capabilities.
Moderna's COVID vaccine brought in $17.7 billion in sales in 2021.
Also See: Arbutus Hits Moderna With New Suit Claiming COVID-19 Vaccine Patent(s).
The company is developing several other vaccines based on mRNA technology, including respiratory syncytial virus, HIV, and shingles.
Price Action: MRNA shares are down 6.35% at $127.80 during the market session on the last check Monday.