The sale of vaccines against Covid has placed Moderna in a new dimension and the figures it already manages are typical of a multinational rather than a small biotech company. The pharmaceutical company has set its sights on Spain and this year it will invest 500 million euros to manufacture vaccines and, soon, medicines. Rovi’s facilities will host a large part of these “Moderna has a significant investment in Spain through its manufacturing collaboration with Rovi and its commercial presence. In 2022, Moderna expects this investment to be approximately 500 million euros. In addition, As part of Moderna’s manufacturing efforts in Spain, the company plans to build a quality testing laboratory for mRNA vaccines in the Community of Madrid, which is expected to be operational in 2023,” they say from the company.
The news of the investment was communicated directly by the directors of the company to the President of the Government, Pedro Sánchez, during a meeting they held yesterday afternoon. Dan Staner, Moderna’s vice president for Europe, the Middle East and Africa; Nicolas Chornet, Global Vice President of Production; and Juan Carlos Gil, General Director for Spain and Portugal, also met with the Minister of Health, Carolina Darias, to convey the investment to her.
This investment might not be the last. The collaboration agreement between Moderna and Rovi will be extended for the next ten years. Although most of the money should come in an early stage to consolidate the manufacturing foundations, Moderna’s investment in Spain could continue to trickle down in the coming years. “In February 2022, we announced a long-term collaboration to increase manufacturing capacity at Rovi’s facilities in Madrid. In addition to producing Moderna’s Covid-19 vaccine, Rovi’s manufacturing platform may also be used to deliver service to future vaccines,” the company says.
Rovi’s plans
Rovi’s agreement with Moderna has changed the paradigm of the Madrid company for the next decade. The boost to the third-party manufacturing division, which almost tripled revenue in 2021, added to the aforementioned investments, will allow Rovi to have economic peace of mind to boost its platform of innovative medicines. One of them, for breast cancer, is scheduled for the year 2025.
But that platform has already given its first product. Last March, Rovi and the Ministry of Health reached an agreement for the financing of its medication against epilepsy. The Interministerial Price Commission decided to grant it a price of 271.3 euros for the presentation that contains 100 milligrams of the active ingredient (Risperidone). Now, the company has assured at its Shareholders’ Meeting that it will be able to distribute its drug after the summer, around the month of September.
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