Baxter International Inc. (BAX) announced Monday an agreement with Moderna Inc. (MRNA), in which Baxter will provide sterile manufacturing services and supply packaging for 60 million to 90 million doses of Moderna's COVID-19 vaccine. Baxter's stock is little changed in premarket trading, while Moderna shares fell 1.4%. The manufacturing of Moderna's vaccine will take place at Baxter's BioPharma Solutions facility in Bloomington, Ind. "We have seen a remarkable demonstration of scientific and health care expertise in the effort to develop vaccines for COVID-19," said Marie Keeley, vice president at BioPharma Solutions. "Baxter is honored to provide our deep expertise in vaccine manufacturing to help partners like Moderna bolster the supply of their vaccine." Over the past three months, Baxter's stock has has edged up 0.2% through Friday and Moderna's stock has dropped 22.2%, while the S&P 500 has gained 3.8%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
March 08, 2021 09:14 ET (14:14 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.