Shares of Moderna (NASDAQ: MRNA) climbed 4% on Monday after the biotech announced a major COVID-19 vaccine supply deal.
Moderna will provide up to 500 million doses of its coronavirus vaccine to Gavi, the Vaccine Alliance. Gavi works with partners -- such as the World Bank, the Bill & Melinda Gates Foundation, and the World Health Organization (WHO) -- to supply low-income countries with much-needed medicines.
Moderna will deliver 34 million doses to Gavi by the fourth quarter. Gavi also has the option to purchase 466 million more doses next year. Moderna will sell the doses at their lowest tiered price.
Source Fool.com