Skip to content
Business
Prognosis

Moderna Covid Shots Turned Down by Buyers on Delivery Woes

  • Covax, African Union decline options to obtain more supplies
  • Developing nations struggle with distribution; shares decline
Bloomberg business news
Moderna CEO: 80% of Future Variants Will Be Manageable
Updated on

Two buyers of Covid-19 vaccines for low- and middle-income countries have declined options to purchase hundreds of millions of additional doses from Moderna Inc., a sign of waning demand as the pandemic eases. 

The African Union and Covax, the World Health Organization-backed group, decided not to obtain more of the vaccine as developing nations struggle to turn supplies into inoculations. Lower-income countries left behind in the global rollout are now grappling with a lack of funds, hesitancy, supply-chain obstacles and other factors that are hampering distribution.