Moderna inks co-promotion deal with Mitsubishi Tanabe

US biotech Moderna (Nasdaq: MRNA) and Japan’s Mitsubishi Tanabe Pharma (TYO: 4508) have entered into a joint agreement regarding the co-promotion of Moderna's mRNA respiratory vaccine portfolio in Japan, including Moderna's COVID-19 vaccine, Spikevax.

While Moderna will handle the manufacturing, sales, medical education and distribution of its mRNA respiratory vaccines under the accord, both companies will engage in activities to enable broad access to Moderna's mRNA respiratory portfolio to have the maximum impact on public health in Japan. The agreement has an initial term until March 31, 2029 and no further details on the financial terms of the deal are being disclosed.

"We are pleased to partner with Mitsubishi Tanabe Pharma to enable the commercialization of our COVID-19 vaccine and future mRNA respiratory vaccine portfolio to the people of Japan," said Kazumasa Nagayama, president and representative director of Moderna Japan. "Mitsubishi Tanabe Pharma has a significant heritage in Japan and has long contributed to public health through numerous vaccines and possesses extensive experience and deep knowledge in this area. We look forward to working together to provide our COVID-19 vaccine in Japan, given the virus continues to pose a significant threat to public health," he added.