Moderna halts plans to build Kenya vaccine plant as Covid shot demand plunges
Publishing timestamp: 2024-04-11 13:23:43
Summary
Moderna has paused plans to build a vaccine manufacturing site in Kenya due to a steep drop in demand for its Covid-19 vaccines in Africa. The company has taken over $1 billion in losses and write-downs related to the cancellation of previous orders from the continent. Moderna's decision is part of its cost-cutting efforts in resizing its Covid vaccine manufacturing footprint.
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Keywords: breaking news, business, business news, health care industry, pharmaceuticals, kenya, moderna inc, biotech and pharmaceuticals, biotechnology,