Moderna to Increase COVID Vaccine Production Rather Than Share Formula With Others

By Alyse Messmer On 10/11/21 at 3:59 PM EDT

Moderna has announced it has no plans to share its vaccine formula with other companies, the Associated Press reported.

Moderna executives have started scaling up production to increase global supply, despite the United Nations health agency asking Moderna to share the formula.

Noubar Afeyan, Moderna's co-founder, told AP that the company analyzed whether to share the formula and determined instead they would independently deliver billions of additional doses in 2022.

"Within the next six to nine months, the most reliable way to make high-quality vaccines and in an efficient way is going to be if we make them," Afeyan said.

The company "went from zero production to having 1 billion doses in less than a year," Afeyan said, "and we think we will be able to go from 1 to 3 billion" in 2022.

According to a Wall Street Journal report in May, the vaccine produced a $1.73 billion revenue in the first quarter, only three full months of its use in the U.S. and international sales.

Moderna's 2021 forecast has been increased from $18.4 billion in revenue to $19.2 billion. Its stock started at $16.27 in January of 2019 and is now over $300 a share.

For more reporting from the Associated Press, see below.

Moderna has announced it has no plans to share its vaccine formula with others. Above, Moderna co-founder and chairman Noubar Afeyan listens to questions during an interview with the Associated Press in Rome on October 11, 2021. Andrew Medichini/Associated Press

Afeyan also reiterated a pledge Moderna made a year ago not to enforce patent infringement on anyone else making a coronavirus vaccine during the pandemic.

"We didn't have to do that," Afeyan said. "We think that was the responsible thing to do." He added: "We want that to be helping the world."

The company announced plans last week to open a vaccine plant somewhere in Africa. Afeyan said he hopes a decision will be made soon on an exact location. Still, it could take years to get the plant up and running.

The COVID-19 vaccine is Moderna's only commercial product. The company announced plans last week to open a vaccine plant somewhere in Africa. Afeyan said he hopes a decision will be made soon on an exact location. Still, it could take years to get the plant up and running.

Afeyan spoke on the last full day of a visit to Italy in which he met Pope Francis, who has appealed for universal vaccine access. He also appeared in Venice to promote a humanitarian prize initiative.