(Reuters) – AstraZeneca Plc sold its 7.7% stake in Moderna Inc. for more than $ 1 billion after shares of the US biotechnology company rose behind the discovery of the coronavirus vaccine, The Times reported.
The report added that it was not clear when AstraZeneca, based in the UK, sold its stake in Moderna.
AstraZeneca and Moderna did not immediately respond to requests for comment.
AstraZeneca maintains its partnership with Moderna for other disease treatments and could sell the AstraZeneca / Oxford University COVID-19 vaccine commercially in the future if the virus becomes endemic, the report added.
Moderna, whose vaccine is being discarded for emergency use against COVID-19 in the United States, said last week that it expects sales of $ 18.4 billion from its coronavirus vaccine this year.
Report by Maria Ponnezhath in Bengaluru; Edited by Jonathan Oatis and Peter Cooney