AstraZeneca Plc sells 7.7% stake in Moderna Inc for more than $1B – Fox Business

AstraZeneca Plc has sold its 7.7% stake in Moderna Inc for more than $1 billion after the U.S. biotechnology company’s shares soared on the back of its coronavirus vaccine breakthrough, The Times reported.

Ticker Security Last Change Change %
AZN ASTRAZENECA PLC 48.38 -0.53 -1.08%
MRNA MODERNA, INC. 154.81 +6.43 +4.33%

The report added that it was not clear over what period British-based AstraZeneca sold its holding in Moderna.

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AstraZeneca and Moderna did not immediately respond to requests for comment.

AstraZeneca Plc has sold its 7.7% stake in Moderna Inc for more than $1 billion after the U.S. biotechnology company’s shares soared on the back of its coronavirus vaccine breakthrough. (Melissa Melvin/AP Images for Tyson Foods File)

AstraZeneca is retaining partnership with Moderna on other disease treatments and could sell its AstraZeneca/Oxford University COVID-19 vaccine on a commercial basis in future if the virus becomes endemic, the report added.

Moderna, whose vaccine is cleared for emergency use against COVID-19 in the United States, said last week it was expecting sales of $18.4 billion from its coronavirus vaccine this year.