AstraZeneca has sold its stake in Moderna for more than $1 billion -The Times

(Reuters) - AstraZeneca Plc has sold its 7.7% stake in Moderna Inc for more than $1 billion after the U.S. biotechnology company`s shares soared on the back of its coronavirus vaccine breakthrough, The Times reported.

The report added that it was not clear over what period British-based AstraZeneca sold its holding in Moderna.

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AstraZeneca and Moderna did not immediately respond to requests for comment.

AstraZeneca is retaining partnership with Moderna on other disease treatments and could sell its AstraZeneca/Oxford University COVID-19 vaccine on a commercial basis in future if the virus becomes endemic, the report added.

Moderna, whose vaccine is cleared for emergency use against COVID-19 in the United States, said last week it was expecting sales of $18.4 billion from its coronavirus vaccine this year.

(Reporting by Maria Ponnezhath in Bengaluru; Editing by Jonathan Oatis and Peter Cooney)

The story has been taken from a news agency