Modern says its coronavirus vaccine will not be ready until 2021

According to the Financial Times, Modern CEO Stephen Bancel said on Wednesday that his company’s coronavirus vaccine would not be available for widespread distribution until at least spring 2021.

Why it matters: Banksel told the FT that the drug maker would not seek emergency authorization for Food and Drug Administration approval for its vaccines for use in frontline medical personnel and at-risk individuals until November 25 at the earliest.

  • He said the company would not seek FDA approval for use in the general population until the end of January.
  • If the vaccine proves to be safe and effective, approval is unlikely to come until late April or early April.

What they are saying “I think it’s late [first quarter], soon [second quarter] According to the FT, Bansell said, “Approval is a reasonable timeline based on what we find from our vaccines.”

big picture: Modern’s vaccine is one of four currently in late stage trials in people in the US

  • The Trump administration announced in August that it had purchased $ 1.5 billion or $ 15 per dose of 100 million doses of Modern’s experimental coronavirus vaccine.
  • The president has repeatedly claimed that a vaccine will be available for wider distribution before the end of the year, although CDC Director Robert Redfield testified to Congress that it is more likely that a vaccine will be available by the second or third quarter of next 2021 Will not done.

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