AstraZeneca cashes out by selling 7.6% stake in vaccine-maker Moderna for $1 billion+

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AstraZeneca has reportedly sold a 7.6 percent stake in vaccine maker Moderna for more than $1 billion, based on information in the UK pharmaceutical company’s annual report, Fierce Pharma reported.

The two-dose Covid-19 Moderna vaccine is the most widely used of the two vaccines now being administered in Delaware. The other is from Pfizer.

The federal government has purchased additional doses of the Moderna vaccine.

The Food and Drug Administration, over the weekend, gave emergency use approval for Johnson & Johnson’s one-dose vaccine.

The news of AZ’s sale followed drug giant Merck selling off its stake in Moderna as its stock price soared on its vaccine success news.

AstraZeneca invested in Moderna as part of its effort to rebuild a ravaged drug pipeline by patent expirations.

Fierce Pharma reported the company is retaining one of its research and development collaborations with the company.

AstraZeneca has a 1,500-employee workforce in Delaware in administration, manufacturing, and logistics.

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