Moderna and Thermo Fisher enter into a long-term collaboration
By Sam Boughedda
Investir.com — Biotech giant Modern Inc (NASDAQ:) and Thermo Fisher Scientific Inc (NYSE:), the U.S. provider of scientific goods and services, announced a 15-year strategic collaboration on Wednesday.
The deal will enable large-scale U.S. manufacturing of Spikevax, Moderna’s Covid-19 vaccine, and other investigational mRNA drugs in Moderna’s pipeline.
For several years, the companies have partnered with Thermo Fisher to support Moderna’s development pipeline with clinical research and contract manufacturing services.
However, the new expanded deal will see Thermo Fisher provide dedicated capacity for various services. Additionally, they will provide inspection, labeling and final packaging services.
“By expanding our strategic partnership, Moderna will further leverage our scale and depth of capabilities to continue to transform its mRNA platform and bring breakthrough new medicines to patients around the world,” commented Michel Lagarde, Vice-Principal Executive Chairman and COO of Thermo Fisher.
Moderna shares are down more than 6% on Wednesday, while after an initial rise, Thermo Fisher is now flat on the day.