<p><img src="https://static3.businessinsider.com/image/5fb1d66c1c741f0019ac9e49-910/AP20318451758858.jpg" border="0" alt="Moderna vaccine" data-mce-source="Hans Pennink/AP" data-mce-caption="In this Monday, July 27, 2020 file photo, a nurse prepares a shot as a study of a possible COVID-19 vaccine, developed by the National Institutes of Health and Moderna Inc., gets underway in Binghamton, N.Y."></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><p>London-listed <a href="https://www.businessinsider.com/covid-vaccines-compared-vaccine-pfizer-oxford-moderna-astrazeneca-side-effects-2021-2">COVID-19 vaccine</a> producer AstraZeneca sold its stake in US biotech Moderna last year for around $1 billion, <a href="https://www.reuters.com/article/us-astrazeneca-moderna-stake-idUSKCN2AS0RO">Reuters</a> reported, citing <a href="https://www.thetimes.co.uk/article/astrazeneca-cashes-in-on-modernas-rising-star-njjcs3r6b">The Times</a>.</p><p>AstraZeneca did not disclose the exact sum they received for selling their 7.7% stake in Moderna but said in their <a href="https://www.astrazeneca.com/content/dam/az/Investor_Relations/annual-report-2020/pdf/AstraZeneca_AR_2020.pdf">annual report</a> that a "large proportion" of the $1.38 billion equity portfolio sales they recorded last year was from the sale.</p><p>Moderna shares were first released to the public in 2018 but AstraZeneca has been involved since 2013, paying $240 million upfront and then progressively increasing its stake.</p><p>Like the Pfizer vaccine, Moderna uses <a href="https://www.businessinsider.com/moderna-designed-coronavirus-vaccine-in-2-days-2020-11">mRNA</a> technology and was approved by the FDA in December.</p><p>However, the <a href="https://www.businessinsider.com/when-will-astrazeneca-covid-vaccine-be-approved-in-us-2021-1">AstraZeneca</a> vaccine has still not been approved as the FDA waits for the company to submit its paperwork.</p><p>Although Moderna said it expects to earn $18.4 billion in vaccine sales this year, AstraZeneca's supplies are being sold on a not-for-profit basis.</p><p>Pfizer had initially estimated it would make about $2 million from its vaccine but has since raised its estimates to $15 billion, according to <a href="https://www.bloomberg.com/news/articles/2021-02-02/pfizer-forecasts-15-billion-in-covid-vaccine-sales-for-2021">Bloomberg</a>.</p><p>In a <a href="https://twitter.com/moderna_tx/status/1364719857552531457">press release</a> last week, Moderna announced that it expects to be able to produce 700 million doses by 2021 as it seeks to ramp up production to 1 billion doses.</p><p>The company is also developing three different <a href="https://www.businessinsider.com/moderna-nih-test-booster-shots-covid-19-variants-2021-2">vaccine booster</a> methods to protect against new variants.</p><p>Meanwhile, AstraZeneca is developing a "<a href="https://www.businessinsider.com/astrazeneca-covid-vaccine-variants-coronavirus-strains-mutations-2021-2">next generation</a>" vaccine for the same purpose, according to its executive vice-president.</p><p><strong>SEE ALSO: <a href="https://www.businessinsider.com/novavax-covid-vaccine-authorization-fda-approval-may-coronavirus-shot-erck-2021-3" >Novavax COVID vaccine could get FDA authorized as early as May: CEO</a></strong></p><p><a href="https://www.businessinsider.com/pfizer-mrna-vaccine-covid-pandemic-profit-produce-johnson-fda-injection-2021-3#comments">Join the conversation about this story »</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/warren-buffett-modest-home-bought-31500-looks-2017-6">Warren Buffett lives in a modest house that's worth .001% of his total wealth</a></p>
Click here to read full news..
