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The COVID-19 pandemic has affected the world in unprecedented ways, causing widespread illness,
death, and economic disruption. In response to the crisis, researchers and healthcare professionals
worked tirelessly to develop a vaccine to protect against the virus. Moderna, a biotechnology company
based in Cambridge, Massachusetts, played a significant role in the development of a vaccine that has
helped combat the pandemic. This article aims to provide a detailed overview of Moderna, the
development of its COVID-19 vaccine, its efficacy, funding sources, and profitability.
Introduction to Moderna
Moderna is a biotech company founded in 2010 with a focus on developing mRNA (messenger RNA)
therapeutics and vaccines. mRNA is a type of genetic material that carries instructions for building
proteins in the body. The company’s mission is to harness the potential of mRNA technology to develop
new treatments and vaccines for a range of diseases.
Moderna has developed several mRNA-based vaccines and therapies, including vaccines for influenza,
cytomegalovirus, and Zika virus. In 2020, the company shifted its focus to developing a vaccine for
COVID-19, which was rapidly spreading worldwide.
Development of the COVID-19 Vaccine
The COVID-19 pandemic sparked a global race to develop a vaccine to protect against the virus.
Moderna was among the first companies to develop a vaccine candidate using mRNA technology. The
company’s vaccine instructs the body to produce a protein found on the surface of the SARS-CoV-2
virus, which triggers an immune response and provides protection against the virus.
The development of Moderna’s COVID-19 vaccine was swift, thanks to the company’s extensive
experience in mRNA technology. Moderna was able to create its vaccine candidate within a few days of
the SARS-CoV-2 virus’s genetic sequence being published. The company then launched a phase 1 clinical
trial in March 2020, which showed promising results. In May 2020, the US government’s Operation
Warp Speed initiative announced a partnership with Moderna, providing funding and support to
accelerate the vaccine’s development.
Moderna’s phase 3 clinical trial involved over 30,000 participants, with half receiving the vaccine and
half receiving a placebo. The vaccine was found to be 94.1% effective in preventing COVID-19 in people
aged 18 and older. The trial also showed that the vaccine was effective against the new variants of the
virus that have emerged.
In December 2020, the US Food and Drug Administration (FDA) granted emergency use authorization
(EUA) to Moderna’s COVID-19 vaccine. The EUA allowed the vaccine to be distributed and administered
to people aged 18 and older in the US.
Efficacy of the Vaccine
Moderna’s COVID-19 vaccine has been shown to be highly effective in preventing COVID-19. In addition
to the phase 3 clinical trial results, real-world data has shown that the vaccine is highly effective in
reducing the risk of infection, hospitalization, and death. The vaccine’s efficacy is a testament to the
power of mRNA technology in developing vaccines for infectious diseases.
Funding Sources for the Vaccine
The development of Moderna’s COVID-19 vaccine was funded by multiple sources. In addition to the US
government’s Operation Warp Speed initiative, which provided $2.5 billion in funding, Moderna
received support from several other organizations. The company received funding from the Biomedical
Advanced Research and Development Authority (BARDA), the National Institutes of Health (NIH), and
the Coalition for Epidemic Preparedness Innovations (CEPI). The funding helped Moderna scale up its
production and testing processes and accelerate the vaccine’s development.
Profitability of the Vaccine
The development of Moderna’s COVID-19 vaccine has been highly profitable for the company. In 2020,
Moderna reported revenues of $803 million, with the majority of its revenue coming from the sale of its
COVID-19 vaccine. The company has projected that it will generate $19.2 billion in revenue from the
vaccine in 2021. Moderna’s success in developing a highly effective vaccine has boosted investor
confidence, leading to a surge in the company’s stock price.
Despite the vaccine’s profitability, Moderna has committed to making its vaccine available at a fair price.
The company has set its vaccine’s price at $32 to $37 per dose for wealthy countries and $15 per dose
for low- and middle-income countries. The company has also pledged to reinvest its profits back into
research and development, including mRNA technology.
Influence of Governments on Moderna’s Vaccine Development
Several governments played a role in supporting Moderna’s vaccine development. The US government’s
Operation Warp Speed initiative provided significant funding and support to accelerate the vaccine’s
development. The Canadian government also signed a deal with Moderna to purchase millions of doses
of the vaccine.
In addition, the European Union (EU) signed a deal with Moderna to purchase up to 460 million doses of
its COVID-19 vaccine. The EU’s support helped Moderna scale up its production and distribution efforts,
ensuring that the vaccine was available to people in Europe and around the world.
Beneficiaries of the Vaccine Development
The development of Moderna’s COVID-19 vaccine has benefitted multiple parties. The vaccine has
helped combat the COVID-19 pandemic, saving countless lives and preventing the spread of the virus.
The vaccine’s success has also boosted investor confidence in Moderna and mRNA technology, leading
to increased investment in biotech companies working on mRNA-based therapeutics and vaccines.
The vaccine has also benefitted governments and healthcare systems by reducing the burden of the
COVID-19 pandemic. The vaccine’s efficacy has allowed governments to ease restrictions on travel,
commerce, and public gatherings, helping to jumpstart the global economy.
Conclusion
In conclusion, Moderna’s development of the COVID-19 vaccine has been a game-changer in the fight
against the COVID-19 pandemic. The company’s use of mRNA technology has revolutionized vaccine
development and could have implications for treating other diseases in the future. The vaccine’s efficacy
and availability have helped combat the pandemic, and its profitability has provided Moderna with the
resources to continue researching and developing mRNA-based therapeutics and vaccines. However, it
is important to address concerns around funding, access, and equity to ensure that the benefits of
vaccine development are available to all. The COVID-19 pandemic has highlighted the need for
continued investment in medical research and global health, and Moderna’s vaccine has provided a
shining example of what is possible with dedication, collaboration, and innovation.
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