Moderna Announces Investment To Increase Global Manufacturing Capacity For COVID-19 Vaccine

(RTTNews) - Moderna Inc. (MRNA) Wednesday said it is making new capital investments to increase capacity at its owned and partnered manufacturing facilities, which it expects will increase global 2022 capacity to about 1.4 billion doses of its COVID-19 vaccine.

The investments will enable additional production of the current Moderna COVID-19 vaccine.

The company has already begun adding this capacity at its owned and partnered manufacturing facilities.

"We believe from our discussions with governments around the world that there will continue to be significant demand for our COVID-19 vaccine and we now are committed to materially increasing our manufacturing capacity. Because of the high efficacy of our COVID-19 vaccine and our ability to quickly develop variant vaccines to help boost the immune system of vaccinees, there is increased demand. We are investing in this additional capacity to help us increase production and allow for flexibility in manufacturing potential vaccine boosters to address emerging variants of the virus," said CEO Stephane Bancel.

Moderna also announces it is increasing its base plan for 2021 manufacturing from 600 million doses to 700 million doses globally.