|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||46.12 - 46.99|
|52 Week Range||45.47 - 66.00|
|Beta (5Y Monthly)||0.57|
|PE Ratio (TTM)||27.99|
|Forward Dividend & Yield||0.39 (0.85%)|
|Ex-Dividend Date||May 09, 2023|
|1y Target Est||N/A|
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Moderna said on Tuesday it will cut production of mRNA drug substance for its COVID-19 vaccine at Lonza's facility in Switzerland this quarter as part of a plan to align manufacturing of the shots with lower post-pandemic demand. The U.S. company had said last week it was in talks with its partners that fill vials and syringes globally to downsize vaccine production. Such a move will help Moderna adjust to the sharp fall in demand for COVID vaccines as payers cut back orders for the shots, partly following the end of the public health emergency for the disease.
Lonza’s shares fell almost 7% on news the CEO would depart at the end of September, which RBC described as unexpected and was unlikely to provide the market with confidence heading into next month’s capital-markets day.
Contract drug manufacturer Lonza's Chief Executive, Pierre-Alain Ruffieux, will leave the Swiss company by mutual agreement at the end of the month, it said on Monday. Lonza said its medium-term strategy and outlook would be discussed in detail at its coming capital markets day on Oct. 17 and that Chairman Albert Baehny will take on the CEO responsibilities until the appointment of a permanent successor to Ruffieux. Shares in Lonza, which makes drug ingredients for healthcare and biotech companies, lost 3.3% in premarket trade.