- Moderna Inc (NASDAQ:MRNA) would set up a manufacturing facility in Kenya, its first in Africa, to produce messenger RNA (mRNA) vaccines, including COVID-19 shots.
- Moderna expects to invest about $500 million in the Kenyan facility and supply as many as 500 million doses of mRNA vaccines to the continent each year.
- It also has plans to start filling doses of its COVID vaccine in Africa as early as 2023.
- Related: Moderna To Build mRNA Vaccine Factory In Africa.
- The company said that Moderna's Kenyan facility would manufacture drug substances and could be expanded to include fill/finish and packaging capabilities.
- Moderna's COVID vaccine brought in $17.7 billion in sales in 2021.
- Also See: Arbutus Hits Moderna With New Suit Claiming COVID-19 Vaccine Patent(s).
- The company is developing several other vaccines based on mRNA technology, including respiratory syncytial virus, HIV, and shingles.
- Price Action: MRNA shares are down 6.35% at $127.80 during the market session on the last check Monday.
