Rovi shares start the week with strong increases. And it is that the good news given by the Modern American company about its advances in the vaccine against Covid-19 is well received by its Spanish partner. Laboratorios Rovi soars more than 5% today on the stock market after the announcement by Moderna that it has requested authorization to market its coronavirus vaccine from both the United States Food and Drug Administration (FDA) and the European Agency of the drug.
Regulators will analyze the mRNA vaccine test data and decide if it is safe and effective enough to recommend its implementation.
The Spanish company Rovi, which signed an agreement with Moderna in July, announced last week that it will be able to produce Moderna’s vaccine in its Spanish plants from early 2021, it explained to the CNMV.
The company does not manufacture the active ingredient in the vaccine, but will be responsible for producing the vials, thawing, packaging and labeling the active ingredient. To do this, it has acquired a new production line with which it plans to produce “hundreds of millions of doses” of the antidote against coronaviru, which it will supply to markets outside the US.
According to the company, the efficacy analysis of Moderna’s phase 3 vaccine study included 30,000 participants with an efficacy of 94.1%, generally good tolerability, and no serious safety concerns identified to date.
Rovi has had a spectacular year on the stock market, especially due to its agreement with Moderna and since January it has accumulated a revaluation of 70%, which has also led it to achieve a market capitalization of more than 2,000 million euros. It capitalizes more than Ibex companies such as Meliá, Almirall, Sabadell, Pharmamar or Indra.