AstraZeneca has reportedly sold its stake in Moderna for more than USD 1 billion after the US-based company's shares rocketed after a breakthrough on its coronavirus vaccine. However, it is yet to be confirmed under what period the UK-based biotechnology sold its 7.7 per cent holding in Moderna.
While both the companies did not immediately respond to requests for comment, according to a Reuters report, AstraZeneca will still partner with Moderna on other treatments and may sell its Oxford COVID vaccine if the virus turns endemic.
Last week, Moderna, whose vaccine is cleared for emergency use in US, had said that it was expecting sales of USD 18.4 billion from its coronavirus vaccine this year.