Moderna makes no secret of its ambition in Spain. The US biotech company specializing in messenger RNA (mRNA) therapies and vaccines will open a new laboratory in Madrid, which will initially create between fifty and sixty jobs, according to Juan Carlos Gil, CEO of Moderna in Spain and Portugal.
The laboratory, which will be operational in 2023, will be located in the center of the Spanish capital and will have a surface area of between 3,000 square meters and 4,000 square meters. It will not be a production laboratory, since Moderna delegates this task to its partner in Spain, Europe, and the rest of the world, except the United States, to Laboratorios Rovi.
The laboratory will be for testing and quality control and, in addition to having an industrial part, it will also house office space. “Spain will position itself as a focus of attraction for mRNA technology in Europe and the world,” said Gil.
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Moderna is looking for Spain to spearhead mRNA technology in Europe
Moderna’s commitment to Spain was made clear last Tuesday, June 7th, when representatives of the US biotech company met with the President of the Government, Pedro Sánchez, and the Minister of Health, Carolina Darias, and announced an investment plan of $530 million (€500 million) for the country by 2022.
Moderna considers Spain to be a key market due to its access to talent, business environment, and the quality of infrastructure, as well as the government’s support policies for innovation in the biotechnology sector.
In February 2022, Moderna announced a long-term collaboration to increase manufacturing capacity at Rovi’s Madrid facility. In addition to producing Moderna’s Covid-19 vaccine, Rovi’s manufacturing platform may also be used to service the U.S. biotech’s future mRNA vaccines.
Rovi’s manufacturing platform can also be used to service future mRNA vaccines
Moderna expects to finish 2022 by manufacturing 500 million doses of its Covid-19 vaccine. 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.
The company tripled its profit in the first quarter of 2022 compared to the same period in 2021, to $3.657 billion, according to the latest results presented by Moderna. In the first quarter of 2021 Moderna posted its first positive result. The figures then and the latest figures published contrast with the cumulative to March 2020, when the company posted losses of $124 million.
Moderna’s total revenues in the first quarter of 2022 were $6.066 billion, compared with $1.937 billion in the same period of the previous year. Of this amount, product sales were US$5.925 billion, compared to US$1.733 billion for the cumulative period through March 2021.
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