Moderna plans to invest $500 million in new African facility

American pharmaceutical company, Moderna, has announced its plan to build a state-of-the-art mRNA facility in Africa.

The biotechnology company said in a statement on Thursday, October 7, 2021 that the facility will produce up to 500 million doses of vaccines each year at the 50 µg dose level.

A $500 million investment in the facility is expected to include drug substance manufacturing, as well as the opportunity for fill/finish, and packaging capabilities.

Moderna CEO, Stephane Bancel, said the company expects to manufacture its COVID-19 vaccine and additional products with its mRNA vaccine portfolio at the facility.

"We are determined to extend Moderna's societal impact through the investment in a state-of-the-art mRNA manufacturing facility in Africa," he said.

Moderna is yet to decide on which country to site the facility and will commence a selection process soon.

The company has also not revealed a time-frame for when the facility will be set up and become fully operational.