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Moderna Inc MRNA

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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Waiving Vaccine IP Does Not Impact Our Assessment of Potential $70 Billion 2021 COVID-19 Market

Karen Andersen, CFA Sector Strategist

Analyst Note

| Karen Andersen, CFA |

We're not making changes to our fair value estimates or moat ratings for COVID-19 vaccine firms following the May 5 announcement that the Biden administration supports a proposed waiver on intellectual property protection for COVID-19 vaccines. The proposal to waive patent rights during the pandemic was initially made to the World Trade Organization by India and South Africa in October. With the pandemic raging in India and Brazil, calls to support this proposal have strengthened, and U.S., Europe, and U.K. opposition has become a potential political liability. It could take months to finalize the proposal, and Europe and U.K. have yet to support the waiver.

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Company Profile

Business Description

Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018. The firm's mRNA technology was rapidly validated with its COVID-19 vaccine, which was authorized in the United States in December 2020. Moderna had 24 mRNA development programs as of early 2021, with 13 of these in clinical trials. Programs span a wide range of therapeutic areas, including infectious disease, oncology, cardiovascular disease, and rare genetic diseases.

Contact
200 Technology Square
Cambridge, MA, 02139
T +1 617 714-6500
Sector Healthcare
Industry Biotechnology
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2021
Stock Type Speculative Growth
Employees 1,300

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