Moderna to supply African Union with up to 110 million doses over the next year

Shares of Moderna Inc. $(MRNA)$ gained 2.2% in premarket trading on Tuesday after the company said it signed a deal to supply the African Union with up to 110 million doses of its COVID-19 vaccine. The first 15 million doses are set to be delivered before the end of this year; the next 35 million in the first quarter of 2022, and up to 60 million in the second quarter of next year. Moderna also said it is developing a plan to allow fill doses of its vaccine in Africa in 2023 and it plans to build a mRNA manufacturing facility there. (BioNTech SE (BNTX)announced Tuesday it also plans to build a mRNA manufacturing site in the African Union.) Moderna's stock has soared 234.6% this year, while the S&P 500 is up 21.6%.