Moderna Signs Deal to Make mRNA Vaccines for Chinese Market

(Bloomberg) — Moderna Inc. will push toward producing messenger RNA vaccines for China, seeking a foothold in the world’s second-largest pharmaceutical market even as geopolitical tensions rise.

Moderna signed a memorandum of understanding and land collaboration agreement on Wednesday to work toward researching, developing and producing mRNA vaccines in China, according to a statement. The U.S.-based developer of an mRNA vaccine for Covid-19 may invest around $1 billion, local media outlet Yicai reported Tuesday, citing sources it didn’t identify. Moderna declined to comment on the size of its investment.