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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.

On page 202 of the company's annual report, and initially highlighted by The Timesof London newspaper, AstraZeneca declared that during...

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