Astrazeneca Buoyed By Huge Paper Profit On Stake In Coronavirus Vaccine Company Moderna

Astrazeneca, the British pharmaceuticals giant that is currently the UK’s most valuable public company, is sitting on a major ‘paper profit’, on its 7.7% stake in Moderna, the Massachusetts-based drugs company at the front of the queue to provide a Covid-19 vaccine. Having invested an initial $240 million in Moderna in 2013, topped up by $140 million in 2016, Astrazeneca’s stake is now worth over $2 billion.

Url: https://www.tradingandinvestmentnews.co.uk/astrazeneca-buoyed-by-huge-paper-profit-on-stake-in-coronavirus-vaccine-company-moderna/

Main category: Business

Sub category: Financial Services

Tags: astrazeneca stock

Added: 03-12-2021