Connect with us

Hi, what are you looking for?

News

Moderna to produce millions of mRNA vaccines in Australia

SYDNEY – U.S. drugmaker Moderna Inc will produce millions of mRNA vaccines a year in Australia after agreeing to set up one of its largest manufacturing facilities outside the United States and Europe.

The deal, a second such commitment in Asia Pacific by a western mRNA vaccine developer, underscores efforts by governments around the world to build up local production and prepare for future pandemic threats after limited early access to shots led to slow COVID-19 vaccine rollouts.

Australian Prime Minister Scott Morrison said the plant in Victoria state was expected to produce up to 100 million mRNA vaccine doses every year when it begins operations in 2024.

“By advancing with this new partnership, we are building … our sovereign capability to manufacture these vaccines here in Australia,” Morrison told reporters in Melbourne.

Morrison did not specify the financial details of the agreement but Australian media reported the deal could be worth about A$2 billion ($1.43 billion).

Moderna said in October it planned to invest up to $500 million to build a factory in Africa to make up to 500 million doses of mRNA vaccines each year, including its COVID-19 shot.

COVID-19 vaccines developed by Moderna and Pfizer /BioNTech use mRNA – messenger ribonucleic acid – technology that teaches cells how to make a protein that triggers an immune response. The technology can also be used to manufacture vaccines for other respiratory illnesses and seasonal flu.

BioNtech announced a plan in May to set up a new factory in Singapore that will have an estimated annual capacity of several hundred million doses of its mRNA vaccines once it is operational in 2023.

South Korea, which has a deal with Moderna to provide bottling work for the U.S. firm’s COVID-19 vaccine, is also seeking to attract mRNA vaccine makers to start local production.

The announcement by Moderna was made as Australia’s New South Wales state, home to Sydney, reported its biggest daily rise in COVID-19 cases since a nearly four-month lockdown ended in early October.

Despite the surge in new infections, officials said a planned easing of restrictions in Sydney from Wednesday will proceed as they urged people to get their booster shots to ward off the Omicron threat.

Australia has inoculated nearly 90% of its population above 16 with two doses and shortened the wait time for a booster shot after the emergence of the Omicron cases.

The country has recorded about 232,700 cases and 2,113 deaths since the pandemic began. – Reuters

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

Data is becoming the lifeline of businesses today. Organizations are beginning to realize that they have to know how to store and manage data...

News

Five-dollar bills are inspected at the Bureau of Engraving and Printing in Washington, D.C., March 26, 2015. — REUTERS THE PHILIPPINES’ dollar reserves dipped...

News

Families enjoy taking pictures around Luneta Park in Manila, Nov. 28. Economic managers are targeting 6.5-7.5% gross domestic product growth this year, and 6-7%...

News

Students attend a cooking class at the Technical Education, Skills and Development Authority (TESDA) training school in Taguig City, March 23. — PHILIPPINE STAR/...

News

Filipino fans attend K-pop group NCT 127’s concert at the SM Mall of Asia in Pasay City, Sept. 2. Aside from NCT 127, many...

News

SAM WORTHINGTON in Avatar: The Way of Water LONDON — Filmmaker James Cameron is taking audiences back to his visually mesmerizing world of Pandora,...

You May Also Like

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.