Moderna announced on Monday that it plans to increase production to make COVID-19 boosters and expand into international distribution, according to the Wall Street Journal.
Moderna said it plans to add two additional production lines to its manufacturing facility in Norwood, Massachusetts, according to the WSJ.
The new production lines will help Moderna increase overall production capacity by roughly 50% at the Massachusetts factory, according to the WSJ.
Moderna and its partners are expanding vaccine production and distribution outside of the U.S., hoping to produce 3 billion vaccines globally in 2022, according to the WSJ. (RELATED: Rare Heart Inflammation Following COVID-19 Vaccination Sparks Emergency CDC Meeting)
“Our plan and our hope is that, as soon as the U.S. has enough doses, we’re allowed to export so we can help as many countries as we can around the world,” Moderna Chief Executive Stéphane Bancel said.
Moderna Inc (MRNA.O) is adding two new production lines at its COVID-19 vaccine manufacturing plant in Massachusetts, in a bid to prepare for making more booster shots, the Wall Street Journal reported on Monday. https://t.co/T1vzYFSMZ4
— Reuters Health (@Reuters_Health) June 21, 2021
Moderna expects the first additional vaccine production line to be finished this fall and the second in 2022, the WSJ reported
The COVID-19 pandemic is slowing down, and future vaccine sales are expected to decrease, according to the WSJ.
COVID-19 vaccine sales could exceed $17.1 billion in 2021 but are expected to dip to $16.8 billion in 2022 and slide even further to $7.4 billion in 2023, according to the WSJ.
Moderna announced on Wednesday that the U.S. government purchased an additional 200 million vaccine doses, a press release said.
The company currently produces between 40-50 million doses a month in the U.S. Most of those vaccines are produced at the Norwood plant, but some are made at a New Hampshire facility, according to the WSJ.
The company announced a major boost in hiring, according to a press release on Friday. Moderna has nearly doubled its employees over the past year from roughly 830 as of March 31, 2020, to 1,500 as of March 31, 2021, and intends to continue hiring at this rate, according to the press release.
Moderna did not immediately respond to The Daily Caller News Foundation’s request for comment.
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