Moderna offers 500 million doses for developing countries, but not this year

As India battles a surge in coronavirus cases, with over 20 million infections nationwide and hospitals running low on oxygen, there is a pressing need to bolster global vaccination efforts.

With this goal in mind, Moderna (Nasdaq: MRNA) has agreed to supply up to half a billion doses of its vaccine to Gavi, the Vaccine Alliance - a public–private global health partnership working on immunisation in lower-income countries.

The Cambridge, USA-based mRNA specialist recently announced it would invest in both owned and partnered manufacturing facilities to boost global supplies of its coronavirus vaccine next year, targeting production of up to three billion doses.