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AstraZeneca Cashes In Moderna Chips

Sold 7.7% Stake In US COVID-19 Trailblazer

 
• By Kevin Grogan

The firms' messenger RNA alliance inked back on 2013 is still very much ongoing but AstraZeneca decided to sell its considerable stake in the high-profile biotech to help finance its own pipeline.

money chest
AstraZeneca R&D coffers boosted by Moderna stake sale • Source: Shutterstock

On top of its own efforts with Oxford University, AstraZeneca PLC has benefited from the stunning success of fellow COVID-19 vaccine maker Moderna, Inc. as one of its largest investors, but it has emerged that the Anglo-Swedish drugmaker recently sold its sizeable stake in the US biotech.

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