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    SUNU Assurances Directors Approve ₦9.34 Billion Rights Issue to Existing shareholders

    SUNU Assurances Directors Approve ₦9.34 Billion Rights Issue to Existing shareholders

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    Nestlé Cuts 16,000 Jobs in a Major Restructuring; Stock Rises Nearly 8%

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    Universal Insurance Shareholders Approve Capital Raise of Up to ₦15 Billion at EGM

    Universal Insurance Shareholders Approve Capital Raise of Up to ₦15 Billion at EGM

    SUNU Assurances Directors Approve ₦9.34 Billion Rights Issue to Existing shareholders

    SUNU Assurances Directors Approve ₦9.34 Billion Rights Issue to Existing shareholders

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    Lafarge Africa Expands Gombe and Sagamu Plants to 5.5MT Capacity

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    SUNU Assurances Directors Approve ₦9.34 Billion Rights Issue to Existing shareholders

    SUNU Assurances Directors Approve ₦9.34 Billion Rights Issue to Existing shareholders

    Access Bank’s Bidvest Bank Acquisition Lapses as Deadline Expires

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    MTN Group Advances Talks to Buy remaining  75% Stake in IHS Towers for $2.76B

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    NNPC acquires equipment to build 40 CNG filling stations

    President Tinubu Cancels $1.42 Billion, ₦5.57 Trillion NNPCL Debt

    Terrorists attack presidential guards in Abuja after threat to abduct Buhari

    FG Confirms U.S.-Backed Airstrikes on Terrorists Targets in Sokoto State

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    NNPC acquires equipment to build 40 CNG filling stations

    President Tinubu Cancels $1.42 Billion, ₦5.57 Trillion NNPCL Debt

    Dangote Refinery will supply first product to market by July – Dangote

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    Nigeria Wins €185.7m Arbitration on Ajaokuta Steel Contract

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    Nigeria’s inflation eases to 16.05% in October 2025

    President Buhari hikes Petrol Price to N212 per litre through the PPPRA

    Federal Government suspends 15% import tax on imported petrol

    Nigeria Imposes 10% Tax on Short-Term Investment Interest

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    Nestlé Cuts 16,000 Jobs in a Major Restructuring; Stock Rises Nearly 8%

    Nestlé Cuts 16,000 Jobs in a Major Restructuring; Stock Rises Nearly 8%

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    Universal Insurance Shareholders Approve Capital Raise of Up to ₦15 Billion at EGM

    Universal Insurance Shareholders Approve Capital Raise of Up to ₦15 Billion at EGM

    SUNU Assurances Directors Approve ₦9.34 Billion Rights Issue to Existing shareholders

    SUNU Assurances Directors Approve ₦9.34 Billion Rights Issue to Existing shareholders

    ​Tantalizers Plc reports N25.9 million loss in Q2 2025

    Tantalizers Plc Secures ₦2bn Equity Investment as Entertainment Bet Gains Momentum

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    Neimeth Seeks NGX Approval for ₦4 per share Rights Issue as Shares Trade at ₦10.10

    Aradel Holdings Plc Profit Surge in 2025 Amid  Acquisitions

    Aradel Holdings Plc Profit Surge in 2025 Amid Acquisitions

    Lafarge Africa Expands Gombe and Sagamu Plants to 5.5MT Capacity

    Lafarge Africa Expands Gombe and Sagamu Plants to 5.5MT Capacity

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    NGX Reg lifts suspension on Trading of Niger Insurance Plc’s shares

    Fortis Global Insurance Returns to NGX Trading Floor After 6-years Suspension

    CEO of Ecobank Group to retire, new CEO announced

    Ecobank Lists Additional 5.3 Billion Ordinary Shares on NGX

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    Fidson Healthcare Announces N21 Billion Rights Issue to Boost Capital Base

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    Wema Bank Plc rights issue opens for subscription

    Wema Bank Plc lists 4.5 billion new shares offered through private placement

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Moderna sues Pfizer, BioNTech over COVID vaccine

Friday, 26 August 2022, 6:19 pm
in News, World
0
Covid-19: Pfizer Vaccine protection against infection drops significantly in Israel
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Moderna on Friday said that it has sued Pfizer and its German partner BioNTech for patent infringement in the development of the first COVID-19 vaccine approved in the United States,

The company alleged that Pfitzer and BioNTech copied technology that it developed years before the pandemic, adding that the vaccine infringes the patent it filed between 2010 and 2016 “covering Moderna’s foundational mRNA  technology,” including two “key features” that were critical to the success of mRNA vaccines.

The lawsuit which seeks undetermined monetary damages was filed in the U.S. District Court in Massachusetts and in the Regional Court of Düsseldorf in Germany.

Moderna in the law suit said that Pfitzer and BioNTech “knowingly followed Moderna’s lead in developing their own vaccine.”

“We are filing these lawsuits to protect the innovative mRNA technology platform that we pioneered, invested billions of dollars in creating and patented during the decade preceding the COVID-19 pandemic,” Moderna CEO Stéphane Bancel said in a statement.

“This foundational platform, which we began building in 2010, along with our patented work on coronaviruses in 2015 and 2016, enabled us to produce a safe and highly effective COVID-19 vaccine in record time after the pandemic struck.”

“It made clear that while it would never enforce its patents for any COVID-19 vaccine used in the 92 low- and middle-income countries in the GAVI COVAX Advance Market Commitment (AMC 92), Moderna expected companies such as Pfizer and BioNTech to respect its intellectual property rights and would consider a commercially reasonable license should they request one for other markets,” the company said in a press release.

However, Moderna said that Pfitzer and BioNTech “failed” in this regard.

“We believe that Pfizer and BioNTech unlawfully copied Moderna’s inventions and they have continued to use them without permission,” said Moderna Chief Legal Officer Shannon Thyme Klinger. “Outside of AMC 92 countries, where vaccine supply is no longer a barrier to access, Moderna expects Pfizer and BioNTech to compensate Moderna for Comirnaty’s ongoing use of Moderna’s patented technologies.”

Pfizer shares fell nearly 1.33% to $47.27, while BioNTech U.S.-listed shares were down about 2.13% to $145.5 and Moderna shares slipped 2.03% to $139.17 on Friday at the time of this report.

In an emailed statement to Reuters, a Pfizer spokesperson said: “Pfizer/BioNTech has not yet fully reviewed the complaint but we are surprised by the litigation given the COVID-19 vaccine was based on BioNTech’s proprietary mRNA technology and developed by both BioNTech and Pfizer.”

“We remain confident in our intellectual property supporting the Pfizer/BioNTech vaccine and will vigorously defend against the allegations of the lawsuit,” the spokesperson said.

Ifunanya Ikueze
Ifunanya Ikueze

Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.

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