From CNBC: 2024-04-11 13:23:43

Moderna has paused plans to build a vaccine-manufacturing site in Kenya due to a drop in demand for its Covid vaccines in Africa. The company has not received any vaccine orders for the continent since 2022, resulting in over $1 billion in losses. Moderna is now focusing on resizing its Covid vaccine manufacturing footprint to cut costs. The biotech company had initially planned to invest $500 million in the Kenyan site and supply up to 500 million doses of its messenger RNA vaccines annually. However, due to insufficient demand, Moderna has decided to halt the construction of the facility. The company remains committed to providing equitable access to its Covid shot in Africa and is working on developing vaccines for diseases like HIV and malaria that are prevalent in the continent.



Read more at CNBC: Moderna halts Kenya vaccine plant plans as Covid shot demand plunges