(Reuters) – AstraZeneca Plc has sold its 7.7% stake in Moderna Inc to more than $ 1 billion after shares of the US biotechnology company skyrocketed at the back of its vaccine advance the coronavirus, The Times reported.
The report added that it was unclear in what period AstraZeneca, based in Britain, sold its stake in Moderna.
AstraZeneca and Moderna did not immediately respond to requests for comment.
AstraZeneca maintains a partnership with Moderna in other treatments for the disease and could sell its COVID-19 AstraZeneca / Oxford University vaccine on a commercial basis in the future if the virus becomes endemic.
Modern, whose vaccine has been phased out for emergency use against COVID-19 in the United States, said last week that it expects $ 18.4 billion in sales of its coronavirus vaccine this year.
Reports from Maria Ponnezhath to Bengaluru; Edited by Jonathan Oatis and Peter Cooney