S-based mRNA specialist, Moderna (NASDAQ: MRNA), has commenced construction on its inaugural pharmaceutical facility in China, as reported by Xinhua. The new plant, situated in Shanghai’s Minhang District at the Xinzhuang Industry Park, is set to serve as Moderna’s China R&D and production headquarters. The project has attracted an investment of RMB 3.6 billion (USD 501 million), signifying Moderna’s commitment to the Chinese market.
Local Manufacturing and Partnership with Shanghai Government
In July, Moderna signed a memorandum of understanding with the Shanghai government, outlining plans to establish local vaccine manufacturing capabilities, with the intention of selling these vaccines within the local market. This strategic move aligns with Moderna’s broader goals of expanding access to its vaccines and strengthening its position in the global healthcare landscape.
Moderna’s Expansion in the Asia-Pacific Region
Until recently, Moderna had no presence in the Asia-Pacific region, having opened an office in Hong Kong last year. Despite the COVID-19 vaccine not gaining approval in China, where the government has prioritized supporting domestic producers, Moderna’s initiative to build a manufacturing plant in Shanghai demonstrates its long-term investment in the region. China granted its first approval for a COVID-19 mRNA vaccine to CSPC Pharmaceutical Group Ltd (HKG: 1093) in March 2023, further indicating the growing importance of mRNA technology in the country’s healthcare sector.-Fineline Info & Tech
