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    Home»Deals & Transactions»AstraZeneca sells stake in vaccine maker Moderna for nearly $1 billion
    Deals & Transactions

    AstraZeneca sells stake in vaccine maker Moderna for nearly $1 billion

    March 2, 2021Updated:March 2, 20211 Min Read
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    AstraZeneca sold its stake in rival COVID-19 vaccine maker Moderna for roughly $1 billion over the course of last year as the Anglo-Swedish drugmaker cashed in on the meteoric rise in the U.S. company’s shares.

    London-listed AstraZeneca recorded $1.38 billion in equity portfolio sales last year, with “a large proportion” of it coming from the Moderna sale, according its latest annual report.

    Last week, Moderna said it was expecting $18.4 billion in sales from the vaccine this year, putting it on track for its first profit since its founding in 2010.

    Asset manager Baillie Gifford on Monday disclosed in a separate filing it now held 11% passive stake in Moderna as of Feb. 26.

    Read more at: Reuters

    By Ankur Banerjee, Pushkala Aripaka, Kanishka Singh, Maria Ponnezhath, Jason Neely, David Evans and Arun Koyyur

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