Moderna revises COVAX deal to offer updated COVID-19 vaccines
Maddie Meyer/Getty Images News


Moderna (NASDAQ:MRNA) announced Monday that a deal to supply low- and middle-income countries with millions of its COVID-19 vaccines under the UN-led COVAX initiative had been canceled in favor of plans to offer updated variant-specific COVID-19 vaccines in 2023.

Gavi, the Vaccine Alliance, which leads the procurement and delivery for COVAX and Moderna (MRNA), have mutually agreed to end the existing contract under which there were pending orders for 2022.
Instead, the partners intend to form a new framework to enable Gavi to procure up to 100M doses of its variant-adapted COVID-19 vaccines in 2023 for COVAX.
Moderna (MRNA) has partnered with Gavi to supply nearly 70M doses of its original COVID-19 vaccine to 92 low- and middle-income countries under the COVAX initiative.

The companyâs COVID-19 vaccines updated for Omicron subvariants are currently being rolled out in the U.S. and Europe.