Moderna to make milestone payments to US for Covid-19 vaccine
Saturday, 25 February 2023
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.