Moderna Inc. (NASDAQ: MRNA) disclosed Thursday that it has teamed up with GC Pharma to deliver 40 million doses of COVID-19 vaccine to South Korea. GC Pharma has earlier entered into an agreement with the Government of the Republic of Korea and Moderna Inc to help the government to provide the COVID-19 vaccine candidate of MRNA to the people of Korea.
Earlier, Korean Disease Control Authorities has disclosed that they will receive the 40 million doses of the COVID-19 vaccine of Moderna in the Q2 of 2021. As per its deal with Moderna, GC Pharma is also liable for the local regulatory activities and as per its deal with the government of Korea, GC Pharma will assist Korean Government in the dissemination activities in South Korea.
Moderna Inc. (NASDAQ: MRNA) shares were trading down 10.62% as it lost -15.59 at the trading session of Wednesday. Moderna Inc.'s share price went from a low point around $19.31 to briefly over $189.26 in the past 52 weeks, though shares have since pulled back to $131.22. MRNA market cap has stayed high, touching $49.77 billion at the time of writing.
The President of GC Pharma stated that GC Pharma is delighted to collaborate with the authorities of Korea and with Moderna for the distribution of the COVID-19 vaccine to South Korea. GC Pharma is endeavoring to help the citizens and the authorities to do what is best for the people. GC Pharma is using its industry knowledge and its expertise to help in the dissemination of vaccine in the best possible way.