Moderna Inc. Reached a tentative agreement with Canada’s government to build a messenger RNA vaccine factory in the country, a move that could boost domestic supplies of shots for COVID and other viruses while expanding the shot maker’s footprint.
Moderna established a memorandum of understanding with the Canadian government to collaborate on the plant, according to a statement from the Cambridge, Massachusetts-based company. The facility may also make shots that are in development to fight influenza, respiratory syncytial virus and other diseases, Moderna said. No financial details were included.
In the event of a new outbreak of disease, the plant would provide Canada with “direct access to rapid pandemic response capabilities,” Moderna said.
Built and operated by Moderna, the plant will be roughly the same size as the company’s factory in Norwood, Massachusetts, that has produced most of the U.S. Supply of the company’s COVID-19 vaccine so far, Chief Executive Officer Stephane Bancel said in an interview. Construction will begin within a few months after the site is finalized, Bancel said, and the plant could open in 2023 or 2024.
While the primary goal of the factory will be supplying the Canadian market, Moderna would be able to export doses not needed for that country, Bancel said. However, in the event of a new pandemic, the Canadian government would have rights to direct Moderna to divert plant capacity toward making vaccines for the country, Bancel said.
Moderna expects to produce 800 million to 1 billion COVID shots this year, and as many as 3 billion doses in 2022. Besides its plant in Norwood, it has relied on contractors including Lonza Group AG to produce vaccine substance in Switzerland and elsewhere.
Subscribe to Coins2Day Daily to get essential business stories straight to your inbox each morning.
