Moderna CEO Stéphane Bancel said Wednesday that his company’s coronavirus vaccine won’t be available for widespread distribution until spring 2021, according to the Financial Times.
Why it matters: Bancel told FT that the drug maker would not seek emergency approval for its vaccine to be approved by the Food and Drug Administration for use by health professionals and frontline people at risk until Nov. 25.
- He added the company won’t file for FDA approval for use in the general population until late January.
- If the vaccine is shown to be safe and effective, it is unlikely that it will be approved at least in late March or early April.
What you say: “I think late [first quarter], early [second quarter] Approval is on a reasonable timeline based on what we know from our vaccine, “Bancel said, according to the FT.
The big picture: Moderna̵
- The Trump administration announced in August that it had purchased 100 million doses of Moderna’s experimental coronavirus vaccine for $ 1.5 billion, or $ 15 per dose.
- The president has repeatedly claimed that a vaccine will be available for widespread distribution before the end of the year, despite CDC Director Robert Redfield telling Congress that it is more likely that a vaccine will not be available until the second or third quarter of next year 2021 Will be available.