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    Wike describes Seyi Makinde as chief architect of PDP problems

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    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

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    Breaking: President Joe Biden diagnosed with “aggressive” cancer

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    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    Air Sierra Leone commences flight operations to Lagos

    Air Sierra Leone commences flight operations to Lagos

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

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    The Frontier Fund unit holders to get N17 per unit distribution

    Banks begin to charge taxes on bonds, T-bills as exemption expires

    Skyway Aviation Handling Company Plc announces N0.6 final dividend for 2024 FY

    Dangote Refinery reduces petrol price by N15 nationwide

    Dangote Refinery reduces petrol price by N15 nationwide

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    Beta Glass Plc announces N2.95 final dividend for 2024 FY

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    Again DMO offers N360 billion FGN bond for February

    DMO offers N300 billion FGN bond for auction in May

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    CSCS Plc explores listing on the Nigerian Exchange (NGX)

    NGX Daily Equities Market Report: Market gains for third consecutive days

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    BITCOIN hits $103,000 for the first time

    Bitcoin (BTC) rises above US$90,000 records a new all time high

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    Bitcoin crosses US$60K, approaches All-Time High

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    Alhaji Dahiru Mangal sold his 1.96bn Oando Shares for N11.81bn

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    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

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    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

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    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

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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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