Yen Stabilizes After Intervention Slide as Australian Dollar Hits Eight-Week High 
Cloudflare Stock Jumps 15% as Earnings Beat Estimates, 2026 Outlook Raised 
China Inflation Cools in July as CPI Misses Forecast, PPI Deflation Eases 
Daimler Truck Q2 Profit Falls 18%, 2026 Outlook Raised 
Asian Currencies Steady as Markets Await U.S. Inflation Data 
Deutsche Bank Upgrades Persimmon to Buy After Strong First-Half Results 
Hanwha Offers Up to $1.2 Billion for Austal US Business 
Berkshire Hathaway Cash Falls as Abel Boosts Stock Buybacks 
US Stock Futures Flat as Iran Strait of Hormuz Demands Fuel Oil Concerns 
Goldman Sachs Sees US Stock Buybacks Outpacing Equity Issuance as AI Funding Rises 
Singapore Raises 2026 GDP Growth Forecast to 4.5%-5.5% as AI Boom Fuels Economy 
Asian Stocks Rise as Weak US Jobs Data Eases Fed Rate Hike Fears 
US Yen Intervention Unlikely to Deliver Lasting Recovery, Yardeni Says 
Nvidia to Invest Up to $3 Billion in Blackstone-Backed Lancium 
Delta Flight Makes Emergency Landing in Atlanta After Cockpit Fumes Reported 
US Judge Dismisses Gautam Adani Criminal Charges 
European Stocks Flat as Oil Prices Rise, US CPI in Focus 
Moderna Inc. enters a historic $1 billion deal with China to research, develop, and produce exclusive mRNA medicines in the country. The agreement, announced amid growing Sino-American tensions, signifies Beijing's increasing openness to foreign pharmaceutical involvement.
The Cambridge, Massachusetts-based pharmaceutical and biotechnology company announced the new deal with Chinese officials on Wednesday, July 5. The agreement is for Moderna to research, develop and produce messenger RNA medicines in the country.
CNBC noted that an agreement was reached despite the growing tensions between China and the United States. Moderna and Beijing signed a memorandum of understanding (MOU) and land collaboration deal to develop drugs that will be made "exclusively for the Chinese people." This means the two sides agreed that the new drug would never be exported and remain in China.
A local media publication reported earlier this week that Moderna is set to invest about $1 billion in the project. It was added that Moderna's chief executive officer, Stephane Bancel, is set to visit Shanghai, possibly to talk more about the deal and for facility inspection.
"These agreements are focused on strengthening health security by targeting unmet needs and contributing to the ecosystem of medical solutions available to patients in China," the company's spokesman stated.
In a separate statement that was sent to Yahoo Finance, Moderna said, "We signed a memorandum of understanding and a related land collaboration agreement to work toward opportunities for Moderna to research, develop and manufacture mRNA medicines in China."
The deal shows that Moderna is trying to take advantage of the success of its COVID-19 vaccine that has been used on people worldwide. The vaccine used a platform called mRNA to push human cells to make an immune response against a virus. At any rate, the agreement was sealed on Wednesday, and this is Moderna's very first deal with the Chinese government.
Photo by: Ian Hutchinson/Unsplash
