US biotech company Moderna has halted the construction of a $500 million mRNA vaccine plant in Kenya due to a drop in COVID-19 vaccine demand.
Moderna said it has not received any vaccine orders for Africa since 2022. It has taken over $1 billion in losses and write-downs related to cancelling previous orders from the continent.
The company will focus its resources on researching and developing new vaccines for HIV and malaria.
“Moderna is actively working on the development of public health vaccines, including those for diseases that predominantly affect the African continent, such as HIV and malaria. These initiatives are part of our broader commitment to help address global health challenges through our innovative mRNA technology,” Moderna said in a statement.
“Given this and in alignment with our strategic planning, Moderna believes it is prudent to pause its efforts to build an mRNA manufacturing facility in Kenya,” the company continued.
“This approach will allow Moderna to better align its infrastructure investments with the evolving healthcare needs and vaccine demand in Africa.”
