Pas­cal So­ri­ot cash­es in As­traZeneca’s chips on Mod­er­na for $1.2B cash in­jec­tion

While still work­ing to prove its own Covid-19 vac­cine, As­traZeneca has re­port­ed­ly cap­i­tal­ized on the suc­cess of an­oth­er.

The com­pa­ny has sold off its 7.7% stake in Mod­er­na and turned it in­to $1.2 bil­lion in cash, ac­cord­ing to the Times, beef­ing up the re­serves just as Pas­cal So­ri­ot is wrap­ping up his $39 bil­lion ac­qui­si­tion of Alex­ion and its rare dis­ease pipeline.

As­traZeneca’s stock sale fol­lows a sim­i­lar move by Mer­ck in De­cem­ber. But like its phar­ma brethren, the British gi­ant is keep­ing its R&D col­lab­o­ra­tions with Mod­er­na.

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