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Switzerland To Dispose 10M Expired COVID-19 Vaccine Doses From Moderna

  • Switzerland would have to discard 10.3 million doses of Moderna Inc's (NASDAQ: MRNA) COVID-19 vaccine, the health ministry said Saturday.

  • The ministry said it had no choice but to eliminate the shots after the doses expired.

  • It told the news agency that 2.5 million doses were being stored at a Swiss army logistics base and 7.8 million were in an external storage depot in Belgium.

  • The ministry confirmed an initial report, which estimated that the destroyed doses would be worth around CHF280 million ($285 million).

  • Related: Moderna Provides Vaccine For Preclinical Studies As WHO Tries Developing Its Own COVID-19 Shot.

  • Switzerland ordered doses from various manufacturers to avoid reliance on vaccines that might eventually prove ineffective and to stave off any delivery problems.

  • Vaccines based on mRNA technology from Moderna and Pfizer Inc (NYSE: PFE) and BioNTech SE (NASDAQ: BNTX) turned out to be effective, leaving Switzerland with a surplus of doses.

  • In June, the Swissinfo news site estimated that Switzerland had around 38 million doses of various COVID vaccines that would expire before the year-end.

  • The ministry said that some 3.5 million doses of the new, adapted Moderna vaccine would be available next month.

  • Price Action: MRNA shares closed lower by 0.55% at $123.64 on Friday.

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