CordenPharma has announced the extension of its lipids supply agreement with pharmaceutical giant Moderna Inc (NASDAQ:MRNA) for the production of its COVID-19 vaccine.
Moderna is one of the companies that have been working round the clock for the development of a coronavirus vaccine, and it recently made headlines with positive findings. Biopharma needs large volumes of lipids to produce the vaccines, so the agreement with CordenPharma to renew their lipid supply deal. CordenPharma has been supplying lipids to Moderna, and it looks like the agreement will facilitate the extension of their collaboration.
“This expansion will increase supply of lipid excipients used to manufacture our mRNA products,” stated Juan Andres, the Chief Technical operations and quality officer at Moderna.
CordenPharma CEO Dr. Michael Quirmbach noted that his company was pleased about the extended agreement, which aims to help Moderna through CordenPharma’s extensive global network. The company has numerous GMP manufacturing facilities in the U.S and Europe. This will come in handy for the rapid production and supply of lipids needed to make the coronavirus vaccine, thus playing a role in rapid rollout. Quirmbach also expressed hope in Moderna’s ability to make a positive impact across the globe through its fast-tracked efforts aimed at combating COVID-19.
The extension of the lipid supply deal is a huge plus for CordenPharma because it will allow the company to generate more revenue as long as the agreement is in place. It also puts CordenPharma in a position to leverage growth if Moderna’s COVID-19 vaccine becomes a hit. Moderna, on the other hand, will get a consistent supply of lipids, which it will then use to develop the coronavirus vaccine. This means that either party will benefit from the extended lipid supply agreement.
The two companies made the initial agreement in 2016, and the expanded supply agreement will allow Moderna to receive a largescale supply of Lipids, which will help ramp up the production of mRNA products. Moderna anticipates heavy demand for its COVID-19 vaccine, and as such, it expects its demand for lipids to go up, and that’s why the deal with CordenPharma is vital.
