Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Moderna says COVID-19 vaccine supply outside United States to slow down

Coronavirus NewsJul 27, 2021 18:06
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: Test tubes are seen in front of a displayed Moderna logo in this illustration taken, May 21, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

By Sangmi Cha

SEOUL (Reuters) - Moderna (NASDAQ:MRNA) said on Tuesday its COVID-19 vaccine manufacturing partners outside the United States are facing delays due to laboratory testing operations that have occurred in the past few days, slowing the supply of the shot to these markets.

The vaccine maker's comments come after South Korean health officials said earlier in the day that Moderna has delayed its late-July vaccine shipment schedule for the country to August due to supply problems.

"We are currently not reserving safety stock to allow vaccines to be delivered faster, which means that we do not have stock in storage to smooth these types of shortfalls or delays," a Moderna spokesperson said. The issue was now resolved, but the delay will lead to a short-term adjustment in the upcoming 2-4 weeks, the spokesperson said.

The shipment delay comes as the South Korean government expands its inoculation campaign to people in their 50s and workers in its vital computer chip and electronic sector.

The disruption has forced authorities to switch to the Pfizer (NYSE:PFE) vaccine for some vaccinations.

Moderna and its manufacturing partners are working to minimize this shortfall across all impacted nations, the company said without naming the affected countries and the severity of the issue.

The supply issue is linked to the vaccine manufacturing process involving Swiss contract drugmaker Lonza and a Spain-based company, which does bottling work for the Moderna vaccine, said Jung Eun-young, head of the vaccine procurement team.

"This means the production-related issue does not only affect South Korea. Rather it is a common problem for countries that receive the volume from the manufacturing site," Jung said in a news conference.

She did not name the Spanish firm, but contract drugmaker Rovi bottles, or "fills and finishes," Moderna vaccines for markets other than the United States.

Contract drugmaker Lonza said questions on COVID-19 vaccine should be directed to Moderna. Rovi was not available for comment.

South Korea has a contract for 40 million doses of the Moderna vaccine, of which about 1.1 million have already arrived.

The country is battling a fourth wave of infections linked to the spread of the more contagious Delta variant and public complacency that has seen daily cases breach the 1,000 mark for the first time since December.

Authorities reported 1,365 new coronavirus cases for Monday.

South Korean officials said the Moderna vaccines scheduled to arrive in August remained on schedule, adding that a detailed shipment plan would be made public once finalised.

Shares of the drugmaker fell 3.7% to $323.5 in morning trade.

Moderna says COVID-19 vaccine supply outside United States to slow down
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email