$1 Billion Vaccine Development Investment in China

Local media today reported Moderna Inc. intends to establish its Chinese headquarters in Shanghai to promote the research, development, production, and sales of messenger RNA vaccines and drugs in China.

Yicai Global confirmed on July 6, 2023, Moderna signed a memorandum of understanding and a land deal with Shanghai's Minhang district government,  marking the Massachusetts-based firm's first investment in China.

Sources told Yicai Global that Moderna's investment will total USD1 billion.

Additionally, Moderna will build a plant in China to make respiratory disease vaccines, such as those against respiratory syncytial virus (RSV) and influenza.

As the recent global pandemic fades, there is market pressure on Moderna to find new vaccine products for its foraying into  China, wrote Yicai.