Coronavirus: Moderna delays vaccine deliveries across Europe, elsewhere
January 30, 2021, 11:12 am

Coronavirus: Moderna delays vaccine deliveries across Europe, elsewhere

This photo shows a bottle reading “Vaccine COVID-19” next to the Moderna logo. (AFP)

Shortfalls in COVID-19 vaccine deliveries from US drugmaker Moderna have spread across Europe, as Italy joined France and Switzerland in announcing the company’s shipments for February would miss expectations.

Moderna told Reuters it had revised short-term delivery guidance for Europe and elsewhere outside the United States based on the “ramp-up trajectory” at its drug substance supplier, which is Swiss contract drug manufacturer Lonza. The company said in normal circumstances the industrial launch of a vaccine could take three to four years to prepare.

Italy now expects Moderna to deliver 20 percent fewer vaccine doses than promised in the week starting on Feb. 7, Italy’s special commissioner for COVID-19 said on Friday, a day after neighboring France and Switzerland announced similar shortfalls.

European countries are now grappling with broad vaccine delays, at least temporarily, as all Western vaccine makers with approved shots - Moderna, Pfizer and its German partner BioNtech, and AstraZeneca - fall behind their initial delivery targets.

A person receives the Moderna COVID-19 vaccine in the gymnasium of International High School in Paterson, N.J. (File photo: AP)

AstraZeneca and the European Union are already embroiled in a dispute over deliveries, while Pfizer said it needed to slow production at a Belgian plant in order to increase it in the long term.

Moderna’s Europe-bound vaccine makes a long, complex journey from contract drug manufacturer Lonza in Switzerland to fill-and-finish facilities in Spain to a Belgian logistics centre before it is shipped out.

“Moderna confirms that, as it scales manufacturing, it is on track to supply the next three months of deliveries and meet its Q1 and subsequent contractual commitments,” Moderna said.

“Moderna remains in close contact with all governments, recognizing the importance of delivery planning for vaccination rollout.”

Lonza did not immediately comment on Friday. Lonza has previously said its Swiss plants will take “a couple of months” to reach “cruising speed.”

On Thursday, France said it expected 25 percent fewer doses of Moderna vaccines, just after Switzerland said Moderna would not meet its February target, jeopardizing the country’s 1

million-vaccine-dose delivery target for the month.

Canada said it should receive 78 percent of the doses it had expected in a shipment due next week.

Switzerland’s Federal Health Ministry did say it expected Moderna to make good on shortfalls in March, and that the company would reach its first-quarter targets.

Among Moderna’s confirmed global orders, the United States is due 200 million doses, the European Commission 160 million, Japan 50 million, Canada 40 million, South Korea 40 million, Switzerland 7.5 million, and Britain 17 million doses, with other markets including Israel, Qatar and Singapore also due vaccine, based on information from the company.

Moderna has committed to producing at least 600 million doses of its vaccine in 2021.

source: Reuters

Image source: AFP

Levant

US Capitol police officer who died after riot to lie in honor Swiss company Novartis to help make Pfizer-Biontech COVID vaccine

BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.