KEY POINTS
Moderna has paused plans to build a vaccine manufacturing site in Kenya after a steep drop in demand for its Covid-19 vaccines.
The biotech company said it has not received any vaccine orders for Africa since 2022 and has taken more than $1 billion in losses and write-downs related to the cancellation of previous orders from the continent.
Moderna’s decision aligns with its broader effort to cut costs by resizing its Covid vaccine-manufacturing footprint.