Moderna submitted its 95% success rate vaccine for approval from USFDA(United States Food and Drug Administration). The company said that they have enough information on the trials conducted, and they are proceeding with their application. The clinical trials from more than 30,000 volunteers showed the vaccine prevented virtually all symptomatic cases of Covid-19.

Moderna expects that on December 17, the FDA will be ready for a public meeting to discuss this data. They will also seek approval from the European Medicines Agency. Moderna shares price went up by 20% in the US as a reaction to the news. The vaccines may be available for commercial use this month and the supply will also be limited.

To know more about the stocks that could benefit from Covid-19 vaccines, click here.

Moderna received more than $1 billion in U.S federal government funding to develop and produce its vaccine. They have also received $1.5 billion to supply it to the American public as soon as it is available in the market. India is also likely to get Moderna’s vaccine through the COVAX facility, which is a global initiative to bring together governments and manufacturers to ensure and accelerate the development and manufacturing of Covid-19 vaccines. India hasn’t signed any advance purchase agreement for Moderna’s vaccine.

For more details about the approval of Moderna’s vaccine visit here.

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