Market News

Moderna Inc. (NASDAQ:MRNA) Targets 20 Million COVID-19 Vaccine Dosses in 2020

Moderna Inc. (NASDAQ:MRNA) is optimistic about its candidate coronavirus vaccine succeeding in trials that could see it make up to 20 million doses available by the end of the year. The drug maker has also confirmed plans to produce between 500 million and 1 billion doses in 2021 should the vaccine prove to be highly effective and safe in combating the havoc, causing coronavirus.

The company has already enrolled over 25,000 participants as part of its late-stage study of ongoing coronavirus vaccine testing. In addition, it is working with Switzerland’s Lonza Group and Farmaceuticos Rovi of Spain to make the vaccine available outside the U.S.

COVID-19 Vaccine Trials

Moderna is among a plethora of drug makers working round the clock to come up with coronavirus vaccines. AstraZeneca plc. (NYSE: AZN) And Pfizer Inc. (NYSE: PFE) are other drug companies that have made impressive strides in clinical trials in late-stage studies.

In the U.S, the drug makers are ramping up efforts to test their candidate vaccine in diverse groups. The companies are especially looking for volunteers from minority groups to take part in the clinical trials. Testing the vaccine in diverse groups is crucial to ensure vaccines’ safety and effectiveness for everyone.

>> Trade on the movements of Moderna with easy markets<<

The testing is also part of a broader plan to instill public confidence at a time when most people are suspicious of vaccines. The companies have since had to ramp up efforts in targeting black Americans as well as the Hispanic population.

However, they face challenges in drawing the required numbers as most of them are reluctant, given the years of discrimination and racism that have fuelled divisions. In contrast, Black’s Latino’s Native Americans, and Asians are at a higher risk of hospitalization and death due to coronavirus.

A number of the companies have also inked deals with governments for the supply of the vaccines once approved. Moderna has already signed a deal with the U.S that will see it supply 100 million doses. It is also believed to be in advanced talks with the European Union for the vaccine.

Ruchi Gupta

Ruchi Gupta covers various beats from finance to technology and from lifestyle to hobbies. She has an MBA in Finance. Ruchi enjoys writing on celebrities and political news. She likes traveling and exploring places.

Related Articles

Back to top button