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Moderna to make milestone payments to NIH for COVID vaccine
Moderna to make milestone payments to NIH for COVID vaccine By Reuters
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Stock Markets 8 hours ago (Feb 24, 2023 06:10PM ET)
(C) Reuters. FILE PHOTO: Boxes containing the Moderna COVID-19 vaccine are prepared to be shipped at the McKesson distribution center in Olive Branch, Mississippi, U.S. December 20, 2020. Paul Sancya/Pool via REUTERS
(Reuters) – Moderna (NASDAQ:MRNA) Inc will make certain contingent development, commercial and regulatory milestone payments to the U.S. National Institutes of Health (NIH) related to the development of COVID-19 vaccines, the company said in a filing on Friday.
Moderna and the U.S. government agency had entered into a license agreement in December related to certain patents concerning the COVID vaccine products, the filing showed.
The vaccine maker first disclosed the deal in its fourth-quarter earnings release stating it missed profit estimates hurt by the royalty payment to NIH.
Moderna said under the agreement it would pay low single-digit royalties on future net sales and also minimum annual royalties.
Moderna to make milestone payments to NIH for COVID vaccine
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