UK’s MHRA approves Moderna’s COVID-19 vaccine for emergency use

Written by: Wajeeh Khan
January 8, 2021
  • UK’s MHRA approves Moderna’s COVID-19 vaccine for emergency use.
  • EU doubles its stock of Pfizer/BioNTech’s COVID-19 vaccine.
  • The United Kingdom has vaccinated roughly 1.5 million people so far.

Moderna Inc. (NASDAQ: MRNA) said on Friday that it secured emergency use authorisation from the United Kingdom’s medicines’ regulator for its COVID-19 vaccine. It is the third vaccine that received a green light from Britain. The first two were AstraZeneca’s that the British-Swedish pharmaceutical giant developed in collaboration with the Oxford University, and Pfizer/BioNTech’s that showed over 90% efficacy in the late-stage trial.

Moderna was reported about 1.5% up in premarket trading on Friday. At £86 per share, however, the stock is still trading significantly lower than the high of £124.91 per share in early December. The price action should come in handy if you are interested in investing in the stock market.

EU doubles its stock of Pfizer/BioNTech’s COVID-19 vaccine

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In related news, the European Union confirmed that it will double its stock of the COVID-19 vaccine developed by the U.S. based Pfizer in collaboration with German BioNTech, after heavy criticism that the European Commission wasn’t buying enough of the life-saving vaccine. The Commission’s president, Ursula von der Leyen said on Friday:

“As you know we have right now access to 300 million doses of the BioNTech-Pfizer vaccine. Now the good news is: we have now agreed with BioNTech-Pfizer to extend this contract. With the new agreement, we could purchase a total of up to an additional 300 million doses.”

In a statement on Friday, UK’s Health Department expressed confidence that Moderna’s vaccine satisfies the strict standards laid out by the Medicines and Healthcare Products Regulatory Agency for safety, efficacy, and quality.

The Health Department also highlighted that the country ordered 10 million additional doses of the vaccine, lifting the total to 17 million. The delivery, it added, is expected in the upcoming spring.

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UK has vaccinated roughly 1.5 million people so far

As per Matt Hancock, UK’s Health and Social Care Secretary, Moderna’s vaccine will help speed up the country’s vaccination program that has so far inoculated roughly 1.5 million people. The novel flu-like virus has so far infected a little under 2.9 million people and caused over 78 thousand deaths.

In a report published in the first week of August, Moderna had posted an over 400% annualised growth in its fourth-quarter revenue.

Moderna performed massively upbeat in the stock market last year with an annual gain of roughly 450%. At the time of writing, it is valued at £33.49 billion.