Latest news with #COVID-flu
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First Post
a day ago
- Business
- First Post
US vulnerable to bird flu but Trump administration cancels $766 mn Moderna vaccine deal
The US Department of Health and Human Services, under Robert F Kennedy Jr, said that after reviewing the Biden-era deal, it was found that the Moderna project did not meet the scientific standards or safety expectations required for continued federal investment read more A test tube labelled "Bird Flu", eggs and a piece of paper in the colours of the US national flag are seen in this picture illustration, January 14, 2023. File Image/Reuters US President Donald Trump's administration has cancelled a deal with Moderna vaccine worth $76 million at a time when cases have started flaring up in the country, affecting poultry. The former Biden administration had awarded Moderna a $590 million contract to advance the development of its bird flu vaccine and support the expansion of clinical studies for up to five additional subtypes of pandemic influenza. That deal now stands null and void, which effectively means that the drug maker does not have the authorisation to create vaccines and sell their shots. STORY CONTINUES BELOW THIS AD The US Department of Health and Human Services, under Robert F Kennedy Jr, said that after reviewing the Biden-era deal , it was found that the Moderna project did not meet the scientific standards or safety expectations required for continued federal investment. It is important to note that RFK Jr is a vaccine sceptic, particularly the mRNA technology that is employed in making Moderna vaccines. Moderna stocks tumble The company has been banking on revenue from newer mRNA shots, including its bird flu vaccine and experimental COVID-flu combination vaccine, to make up for waning post-pandemic demand for its COVID vaccine. After the announcement about its bird flu vaccine, shares of Moderna were flat in after-market trading. As it is, the company was not doing so good business-wise. In the first quarter, Moderna reported a loss of $2.52 per share on $86 million in product sales. While the loss was smaller than expected and an improvement over the $3.07 per-share loss from the same period last year, revenue fell short of expectations. Analysts polled by FactSet had projected sales of $107.3 million. Bird flu in US Bird flu has been spreading in the US for quite time, hitting the sale and consumption of poultry products and affecting businesses. As of May 6, the Centres for Disease Control and Prevention (CDC) recorded 70 cases of avian influenza and one death. In April 2024, the CDC confirmed the first human case of bird flu in a Texas dairy worker who had been exposed to cows suspected of being infected. This case is believed to mark the first known transmission of the H5N1 strain from mammals to humans. STORY CONTINUES BELOW THIS AD With inputs from agencies
Int'l Business Times
2 days ago
- Business
- Int'l Business Times
Moderna Loses $700M US Contract for Bird Flu Vaccine Development
The Moderna logo is seen at the Moderna campus in Norwood, Massachusetts on on December 2, 2020, where the biotechnology company is mass producing its Covid-19 vaccine. Moderna announced Wednesday that the Trump administration has canceled a major contract worth nearly $700 million for the development of its bird flu vaccine. This decision ends a key pandemic preparedness project started during the Biden administration. In January, Moderna received $590 million from the US government to support clinical trials and build a vaccine for H5N1, the bird flu virus that's been spreading among cattle and poultry. According to Reuters , the funding followed an earlier $176 million award given in 2024 for the same purpose. The US Department of Health and Human Services (HHS) said it ended the agreement after a full internal review. A spokesperson explained, "The project did not meet the scientific standards or safety expectations required for continued federal investment." Moderna's early data from testing showed strong results. In a study with around 300 adults, 98% of participants developed immunity within three weeks of the second shot. Moderna CEO Stéphane Bancel said the vaccine was "well-tolerated" and produced a "robust immune response." 🚨BREAKING: HHS Terminates Moderna's $766 Million in mRNA Bird Flu Injection Contracts🔻 Ends all federal purchase commitments🔻 $590M canceled for late-stage clinical trials🔻 $176M canceled for early R&D support This marks a major policy shift away from dangerous mRNA… — Nicolas Hulscher, MPH (@NicHulscher) May 28, 2025 Moderna to Push Bird Flu Vaccine Without Federal Funding Despite the promising findings, the federal government pulled its support. Public health expert Amesh Adalja from Johns Hopkins Center for Health Security said canceling the deal "throws away one of the fastest tools we have" to fight a possible bird flu outbreak. He also noted the decision goes against the earlier rapid-response approach used during COVID-19. Bird flu has infected at least 70 people in the past year, most of them farm workers. It continues to spread among animals, raising concerns about a future outbreak in humans, AP News said. Health Secretary Robert F. Kennedy Jr. has questioned vaccine use and previously suggested letting the virus spread in poultry to study natural resistance. His remarks were criticized by some members of Congress. Moderna said it still plans to move forward with its bird flu vaccine. The company will look for other ways to continue late-stage development and production. "We will explore alternative paths forward for the program," Bancel added. The company has been counting on its new mRNA vaccines—including the bird flu and a COVID-flu combo shot—to replace falling demand for its original COVID-19 vaccine. Moderna's stock price did not change much after the announcement, staying mostly flat in after-hours trading. Originally published on © {{Year}} All rights reserved. Do not reproduce without permission.
Yahoo
2 days ago
- Business
- Yahoo
US cancels more than $700 million funding for Moderna bird flu vaccine
By Patrick Wingrove (Reuters) -The Trump administration has canceled a contract awarded to Moderna for the late-stage development of its bird flu vaccine for humans, as well as the right to purchase shots, the drugmaker announced on Wednesday. Shares of Moderna were flat in after-market trading. Moderna in January was awarded $590 million by the Biden administration to advance the development of its bird flu vaccine, and support the expansion of clinical studies for up to five additional subtypes of pandemic influenza This was in addition to $176 million awarded by the U.S. Department of Health and Human Services (HHS) last year to complete the late-stage development and testing of a pre-pandemic mRNA-based vaccine against the H5N1 avian influenza. HHS told Reuters earlier this year that it was reviewing agreements made by the Biden administration for vaccine production. "The cancellation means that the government is discarding what could be one of the most effective and rapid tools to combat an avian influenza outbreak," said Amesh Adalja, senior scholar at the Johns Hopkins Center for Health Security, adding that it is the opposite approach Trump took with Operation Warp Speed to combat COVID-19. An HHS spokesperson said that after a comprehensive internal review, the agency had determined that the project did not meet the scientific standards or safety expectations required for continued federal investment. Bird flu has infected 70 people, most of them farm workers, over the past year as it has spread aggressively among cattle herds and poultry flocks. Health Secretary Robert F. Kennedy Jr. has questioned the use of vaccines and earlier this year drew censure from some in the U.S. Congress after he suggested in a television interview that poultry farmers should let the bird flu spread unchecked through their flocks to study chickens who did not contract it. Moderna said it plans to explore alternatives for late-stage development and manufacturing of the vaccine. The company has been banking on revenue from newer mRNA shots, including its bird flu vaccine and experimental COVID-flu combination vaccine, to make up for waning post-pandemic demand for its COVID vaccine. Moderna also said on Wednesday that it had received positive interim data from a mid-stage trial set up to test the safety and immunogenicity of its bird flu vaccine targeting the H5 avian influenza virus subtype. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Express Tribune
2 days ago
- Health
- Express Tribune
Moderna bird flu vaccine: US cancels over $700 million funding, prompting concerns
Listen to article The United States has cancelled over $700 million in funding allocated to Moderna Inc. for the late-stage development of its bird flu vaccine, citing concerns over scientific standards and safety. The decision, which halts a key project targeting the H5N1 avian influenza strain, marks a notable policy reversal in the nation's pandemic preparedness efforts. The contract, originally awarded under the Biden administration, included $590 million in January to expand Moderna's clinical trials and explore up to five new influenza subtypes. An additional $176 million had previously been committed by the Department of Health and Human Services (HHS) in 2024 to complete development and testing of the mRNA-based vaccine. Today we announced an update on our investigational pandemic influenza program. Learn more: — Moderna (@moderna_tx) May 28, 2025 Moderna confirmed the cancellation on Wednesday, stating that it still intends to pursue alternative paths for advancing the vaccine's development and manufacturing. Shares of the company remained flat in after-hours trading. A spokesperson for HHS said a 'comprehensive internal review' had determined the Moderna project no longer met the federal agency's 'scientific standards or safety expectations' to justify continued public investment. The spokesperson did not provide further detail on the nature of the review's findings. The decision comes as the H5N1 strain continues to circulate globally, having infected at least 70 people in the past year—primarily farm workers—while also spreading through cattle herds and poultry flocks. Dr Amesh Adalja, a senior scholar at the Johns Hopkins Center for Health Security, criticised the cancellation, warning that the government was 'discarding what could be one of the most effective and rapid tools' to contain a potential outbreak. He contrasted the move with former President Donald Trump's Operation Warp Speed, which expedited COVID-19 vaccine development. BREAKING: HHS just killed a $600M Moderna contract for pandemic flu vaccines. The platform: mRNA—the fastest we have against threats like H5N1. The reason? RFK Jr.'s skepticism. The risk? Deadly delays when the next pandemic hits. — Carolyn Barber, MD (@cbarbermd) May 28, 2025 Health Secretary Robert F. Kennedy Jr. has also drawn criticism in recent months for his scepticism of vaccine deployment. In a controversial television appearance earlier this year, he suggested that poultry farmers should allow avian flu to spread unchecked to observe natural resistance in chickens. Despite the setback, Moderna reported encouraging interim results from an ongoing mid-stage trial evaluating the safety and immune response of its H5 vaccine candidate. The company has been relying on revenue from next-generation mRNA vaccines—including its bird flu and COVID-flu combination shots—as demand for its COVID-19 vaccine continues to decline. The cancellation reflects shifting priorities within the federal government and highlights growing scrutiny of pandemic-related funding decisions made during the previous administration.
The Star
2 days ago
- Health
- The Star
US cancels more than $700 million funding for Moderna bird flu vaccine
Moderna logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration (Reuters) -The Trump administration has canceled a contract awarded to Moderna for the late-stage development of its bird flu vaccine for humans, as well as the right to purchase shots, the drugmaker announced on Wednesday. Shares of Moderna were flat in after-market trading. Moderna in January was awarded $590 million by the Biden administration to advance the development of its bird flu vaccine, and support the expansion of clinical studies for up to five additional subtypes of pandemic influenza This was in addition to $176 million awarded by the U.S. Department of Health and Human Services (HHS) last year to complete the late-stage development and testing of a pre-pandemic mRNA-based vaccine against the H5N1 avian influenza. HHS told Reuters earlier this year that it was reviewing agreements made by the Biden administration for vaccine production. "The cancellation means that the government is discarding what could be one of the most effective and rapid tools to combat an avian influenza outbreak," said Amesh Adalja, senior scholar at the Johns Hopkins Center for Health Security, adding that it is the opposite approach Trump took with Operation Warp Speed to combat COVID-19. An HHS spokesperson said that after a comprehensive internal review, the agency had determined that the project did not meet the scientific standards or safety expectations required for continued federal investment. Bird flu has infected 70 people, most of them farm workers, over the past year as it has spread aggressively among cattle herds and poultry flocks. Health Secretary Robert F. Kennedy Jr. has questioned the use of vaccines and earlier this year drew censure from some in the U.S. Congress after he suggested in a television interview that poultry farmers should let the bird flu spread unchecked through their flocks to study chickens who did not contract it. Moderna said it plans to explore alternatives for late-stage development and manufacturing of the vaccine. The company has been banking on revenue from newer mRNA shots, including its bird flu vaccine and experimental COVID-flu combination vaccine, to make up for waning post-pandemic demand for its COVID vaccine. Moderna also said on Wednesday that it had received positive interim data from a mid-stage trial set up to test the safety and immunogenicity of its bird flu vaccine targeting the H5 avian influenza virus subtype. (Reporting by Patrick Wingrove; Editing by Sandra Maler)
