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Moderna Boosts Vaccine Manufacturing Target, Sees 100 Million U.S. Doses In Q1

Moderna vowed to speed-up its vaccine manufacturing pace Monday as the rollout of treatments in the U.S., and around the world, continue to fall well below earlier targets.

Moderna Inc.  (MRNA) - Get Moderna, Inc. Report said Monday that it plans to deliver at least 100 million doses of its newly-approved coronavirus vaccine by the end of March, and boosted the lower end of its year-end target to 600 million.

Moderna, which won Emergency Use Authorization from the U.S. Food & Drug Administration for its mRNA 1273 vaccine in early December, said at least 200 million doses will be available in the U.S. by the end of June, and listed its year-end target for global doses to between 600 million to 1 billion.

  “Our effectiveness in providing early supply to the U.S. and Canadian governments and our ability to increase baseline production estimates for 2021 are both signals that our scale up of mRNA vaccine production is a success,” said Moderna CTO Juan Andres. “I want to thank the many private and government collaborators, contractors and the hundreds of Moderna staff who have been working thoughtfully and tirelessly to accomplish this.”  

Moderna shares were marked 0.8% higher in early  trading Monday to change hands at $105.00 each, a move that leaves the stock with a six-month gain of around 80%.

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Johns Hopkins University reported 210,000 new coronavirus infections in the United States yesterday, a 40% increase from last week's levels that takes the overall total past 20.7 million. 

The government's vaccine roll-out, however, has failed to match expectations of a post-Christmas spike in infections, with just over 3 million people receiving jabs, compared to a year-end 2020 target of 20 million set by Operation Warp Speed.

Dr. Anthony Fauci, however, told ABC’s “This Week" program Sunday that "the important thing is to see what’s happening in the next week, to week and a half" now that the "massive" vaccine program has finally started to gain traction.