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Moderna Strengthens Production in Spain to Reach 500 Million Doses by 2022

Moderna closed 2021 with a profit of $12.2 billion, compared to a loss of $747 million recorded in 2020. Moderna’s total revenue in 2021 was $18.471 billion, compared with $803 million in 2020. Of this total amount, product sales were $17.675 million, compared with $200 million in 2020. Moderna just reached an agreement with Rovi to increase Covid-19 vaccines production.

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Moderna strengthens its alliance in Spain. The U.S. biotech company, which has an agreement in the country with Laboratorios Farmacéuticos Rovi, expects to end 2022 by manufacturing 500 million doses of its anti-Covid-19 vaccine, Juan Carlos Gil, Moderna’s general manager in Spain and Portugal, confirmed.

So far, the company has manufactured just over 350 million doses of its Covid-19 vaccine in Spain, which it has distributed to more than sixty countries. On a global scale, these 500 million doses translate into more than 800 million doses, plans which in Spain are forged with the renewal of the agreement between Moderna and Rovi for a further ten years to increase the formulation, aseptic filling, inspection, labeling and packaging capacities at Rovi’s facilities in Madrid, San Sebastián de los Reyes and Alcalá de Henares.

This new agreement includes anchoring the production of Moderna’s Covid-19 vaccine at Rovi’s factories. In addition, the Spanish company’s platform may also be used to service Moderna’s future messenger RNA (mRNA) vaccine candidates.

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The biotech company strengthens its production in Spain to reach 500 million doses by 2022

mRNA serves as a starting point for multiple new projects that Moderna is working on. The biotech company aims to have a pan-respiratory vaccine. “Respiratory viruses cause the most deaths; when a patient is admitted to the hospital with a serious illness, what finally causes death is a respiratory condition,” explained Gil. And from respiratory viruses to the bivalent influenza-Covid: presumably, by the end of 2023 Spain will be able to distribute a vaccine of this type with Moderna’s seal of approval, which will be able to prevent hospitalizations and deaths. Another of Moderna’s challenges is to find a vaccine capable of eradicating the fifteen pathogens that the World Health Organization (WHO) considers most dangerous to public health.

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“We want a vaccine to enter the clinical trial phase by 2025,” said the head of Moderna in Spain. Some of these diseases are malaria, Zika, dengue, tuberculosis, HIV, and Crimean-Congo hemorrhagic fever.

Moderna closed 2021 with a profit of $12.2 billion

The company closed 2021 with a profit of $12.2 billion, compared to a loss of $747 million recorded in 2020.

Moderna’s total revenue in 2021 was $18.471 billion, compared with $803 million in 2020. Of this total amount, product sales were $17.675 million, compared with $200 million in 2020. The biotech company believes that the Sars-Cov-2 virus will evolve into an endemic phase in 2022 and, as a result, the company expects sales to be higher in the second half than in the first half of the year.

In 2022, the company plans to further expand its commercial network by establishing or activating commercial subsidiaries in the following regions: in Asia: Hong Kong, Malaysia, Singapore, and Taiwan; and in Europe: Belgium, Denmark, and the Netherlands, Norway, Poland, and Sweden. In addition, Moderna will continue to work with distributors or partners in other geographies.

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(Featured image by torstensimon via Pixabay)

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Olivia McCall is passionate about education, women and children’s rights, and the environment. A long-time investor, she covers news about the latest stocks (lately marijuana and tech), IPOs and indices, and is always on the lookout for socially responsible startups. She also writes about the food sector, and has a keen interest on cryptocurrencies.