(Reuters) – AstraZeneca Plc sold its 7.7% stake in Moderna Inc for more than $ 1 billion after the US biotech firm’s stock soared due to the discovery of the coronavirus vaccine, The Times reported .
The report added that it was unclear when Britain-based AstraZeneca sold its stake in Moderna.
AstraZeneca and Moderna did not immediately respond to requests for comment.
AstraZeneca is partnering with Moderna on other disease treatments and may sell its COVID-19 AstraZeneca / Oxford University vaccine on a commercial basis in the future if the virus becomes endemic, the report added.
Moderna, whose vaccine is released for emergency use against COVID-19 in the United States, said last week that it expected sales of $ 18.4 billion of its coronavirus vaccine this year.
Reporting by Maria Ponnezhath in Bengaluru; Editing by Jonathan Oatis and Peter Cooney