Moderna will invest in a new laboratory in Spain over 520

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US pharmaceutical group Moderna Inc. plans to invest about 500 million euros ($ 520.60 million) in a new laboratory in Spain to increase vaccine production, Prime Minister Pedro Sanchez said in a message on Twitter. Reuters reports.

Sanchez met with Moderna Vice President Dan Staner to discuss plans to expand the company in Spain.

Earlier, the Spanish pharmaceutical group Rovi announced a ten-year extension of the agreement with Moderna to produce new drugs developed with mRNA technology, used for Moderna’s COVID-19 vaccine.

Rovi announced that the agreement with Moderna will include new investments to expand the capacity of the factories, but did not disclose the value of the investment.

In a separate statement, Moderna announced that it wants to set up a high-performance testing laboratory for mRNA vaccines in Madrid in 2023.

Moderna specified that the investment of 500 million euros this year includes its collaboration with Rovi.

In 2021, Moderna’s sales rose to $ 18.5 billion, from $ 803 million in 2020.