a year ago

Moderna to make milestone payments to US for Covid-19 vaccine

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Moderna Inc will make certain contingent development, commercial and regulatory milestone payments to the US National Institutes of Health (NIH) related to the development of COVID-19 vaccines, the company said in a filing on Friday.

Moderna and the US government agency had entered into a license agreement in December related to certain patents concerning the COVID vaccine products, the filing showed.

According to Reuters, the vaccine maker first disclosed the deal in its fourth-quarter earnings release stating it missed profit estimates hurt by the royalty payment to NIH.

Moderna said under the agreement it would pay low single-digit royalties on future net sales and also minimum annual royalties.

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