Moderna to Make Milestone Payments to NIH for COVID Vaccine2023-02-27
(Reuters) – Moderna Inc will make certain contingent development, commercial and regulatory milestone payments to the U.S. National Institutes of Health (NIH) related to the development of COVID-19 vaccines, the company said in a filing on Friday.
Moderna and the U.S. government agency had entered into a license agreement in December related to certain patents concerning the COVID vaccine products, the filing showed.
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.
(Reporting by Khushi Mandowara in Bengaluru; Editing by Shailesh Kuber)
Source: Read Full Article