NAB Plans to Cut 170 Jobs While Expanding Offshore Operations 
Asian Markets Rally as Oil Prices Tumble and Middle East Peace Hopes Emerge 
Finnair Orders 18 Embraer E195-E2 Jets in Landmark Fleet Overhaul 
Australia-EU Free Trade Deal Signed After Years of Negotiations 
Lynas Rare Earths Signs Vietnam Deal with LS Eco Energy to Boost Magnet Metal Production 
ECB Eyes Rate Hike Amid Iran Conflict-Driven Energy Price Surge 
Bank of Japan Eyes April Rate Hike Despite Inflation Dip, ING Says 
Bank of Japan Officials Signal Continued Interest Rate Hikes Amid Inflation Concerns 
Berkshire Hathaway and Tokio Marine Form Major Strategic Insurance Partnership 
Iran-Israel Missile Strikes Continue Amid Mixed Signals on U.S.-Iran Diplomacy 
Japan Eyes Oil Futures Intervention to Stabilize Yen Amid Middle East Crisis 
Nintendo Switch 2 Production Cut as Holiday Sales Miss Targets 
Australia's Inflation Eases in February but Core Pressures Persist 
Japan's Private Sector Growth Slows in March Amid Rising Costs and Middle East Uncertainty 
Oil Prices Plunge Over 6% as Middle East Ceasefire Hopes Ease Supply Fears 
Samsung Biologics is now confirmed to produce Moderna’s COVID-19 vaccines in South Korea. The biotechnology company headquartered in Incheon is said to be working to hasten preparations and begin the production of the shots in the second half of this year.
Confirmation of the vaccine production deal
The Korea Herald reported that Samsung Biologics is preparing its drug manufacturing facility in Songdo, Incheon. This is said to be one of the largest in the world and it is here where the biotech firm will be handling the filling and finishing process of Moderna vaccine production. To be more specific, the mRNA-1273 which is the American pharmaceutical company’s messenger-RNA-based COVID-19 shot.
The Samsung and Moderna agreement was officially signed and this was witnessed by South Korean President Moon Jae In looking. The deal is actually part of the Korean-US vaccine partnership that was one of the agendas at the recent summit that was held in the U.S. last week.
The agreement between Samsung Biologics and Moderna
Samsung Biologics will be filling up vials and packaging them for sale and distribution. The main vaccine content will be coming directly from Moderna and Lonza, its Swiss production partner, and the overall finishing process will be done in Korea.
"This vaccine is paramount to people around the world in the fight against the COVID-19 pandemic, and we truly appreciate our client Moderna for entrusting and choosing to partner with Samsung Biologics for the fill and finish of this important vaccine," Samsung Biologics CEO, John Rim, said in a press release."Due to the high level of urgency in supplying the vaccine to the global population, we have set immediate action plans and schedule to make mRNA-1273 available for commercial distribution in the early second half of 2021."
On the other hand, Moderna’s chief technical operations and quality officer, Juan Andres, said that they are pleased to team up with Samsung Biologics for the fill and finish production. He explained that this arrangement will help them continue to boost their manufacturing capacity outside of the U.S. as they remained committed to beating COVID-19.
Meanwhile, South Korean government officials gladly welcomed the partnership as this is a big opportunity for the country to scale up and be a global factory of vaccines for COVID-19.
