Modern CEOs “didn’t sleep” because the U.S. refused patents
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Modern CEOs said he “didn’t sleep for a minute” after the U.S. government decided to suspend the patent for the Covid-19 vaccine because of a move that has stunned the pharmaceutical industry.
The Biden administration said on Wednesday it would accept it temporary repeal of patents, steps taken by many in the industry against the cancellation of intellectual property rights said the owner dangerous background and was at risk of halting innovation in the sector.
Stéphane Bancel, CEO of Moderna, said he believes “it doesn’t change anything for Moderna” in a call with analysts on Thursday to analyze the company’s first-quarter results.
He argued that there are not enough production sites or skilled workers to increase the supply of mRNA vaccines like modern, and that the fastest and most efficient way was to focus on expanding the manufacturing of companies that already had technology and knowledge. to supply the world with mRNA ownership.
“There is no potential in the world to waste mRNA. This is new technology; you can’t go and hire people who know how to do mRNA – those people don’t exist, ”Bancel said.
The refusal of patents “will not help to supply more mRNA vaccines to the world faster in 2021 and 2022,” the most decisive period of the pandemic.
“If you start today, you have to start hiring people. These vaccines do not fall from the sky, “Bancel told the FT US Pharma and Biotech Summit on Thursday.” There is no mRNA industry… When we hire people from traditional pharmacy, we need to train them among mRNAs. “
They are made with Moderna and BioNTech / Pfizer owners MRNA, the sequence of the genetic code that commands the body’s immune system to fight infections. The technology was never used in a vaccine. In contrast, the Johnson & Johnson and Oxford / AstraZeneca plans adenovirus to give the vaccine to the body.
Morgan Stanley analysts said the IP refusal “does not see much practical implications” because they believed the World Trade Organization did not have the power to force Moderna to teach other manufacturers how to vaccinate, “proposing no change to the status quo.” .
Shares of the modern fell 10 percent on Thursday, despite gains in the first quarter, but recovered at noon to trade about 2 percent cheaper.
The company sold $ 1.7 billion worth of Covid vaccines in the first three months of the year, and said it will apply to U.S. health agencies this month to fully approve its jab.
The pharmacist said revenue totaled $ 1.9 million in the first quarter, as it sold 102 million doses of two-dose shots. It reported a net profit of $ 1.2 billion compared to a loss of $ 124 million a year ago.
Modern said the results of the 2/3 phase vaccine trial for children aged 12/17 showed a 96 percent effectiveness. The trial of 3,235 participants did not cause any serious side effects, he said.
The test results came when countries wanted to expand their vaccination programs to younger age groups. It was a BioNTech / Pfizer vaccine permission to use Canada was the first country to approve a children’s coronavirus jab for children between the ages of 12 and 15 on Wednesday.
Moderna is likely to take advantage of the need for booster launches to tackle new variants of coronavirus in the coming years, and Bancel has stressed the demand to encourage governments. The pharmacist has expanded its capacity to manufacture up to 3 billion doses of vaccine in 2022.
A new variant has already sparked a devastating wave of the virus India, Which has registered more than 20 million cases, pushing health care systems to the brink of collapse.
The company said a 50 mg booster shot of people who had already been vaccinated was shown to be effective against the original virus and variants first detected in South Africa and Brazil.
Bancel told the FT that governments that bought doses of adenovirus-based vaccines wanted to use them to promote mRNA vaccines because they proved that mRNA owners were more effective.
Modern said he expects $ 2021 million in revenue so far to sign vaccination contracts by 2021 and provide up to 250m doses in the second quarter.
Thursday Switzerland was the last country to launch a booster of Moderns on Thursday, with a registered dose of 7m in 2022 and an additional 7m dose to be given in at least the first quarter of 2023.
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