Moderna puts Kenya plant plans on hold as Covid vaccine demand slumps
Vials labelled "VACCINE Coronavirus Covid-19" and a syringe are seen in front of a displayed Moderna logo in this illustration taken on December 11, 2021. PHOTO | REUTERS
Moderna said on Thursday it had paused its plans to build a vaccine manufacturing facility in Kenya, following a post-pandemic decline in demand for Covid-19 vaccines.
The move is in line with Moderna's strategy of resizing its manufacturing network to cut costs, even as it aims to spend around $4.5 billion this year in research and development of several new vaccines, including for cancer and respiratory syncytial virus (RSV).
