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Moderna stock plummeted on Biden's support of waiving vaccine patent protections, but that backing won't have a material impact on the company, Morgan Stanley says

1 month ago   |   By Business Insider

Summary List Placement Moderna shares fell sharply for a second session Thursday after the US said on Wednesday it supports waiving intellectual property protections for COVID-19 vaccines. The stock has now declined as much as 23% since Monday's close after a 7% drop on Tuesday.
But Morgan Stanley said it doesn't see a waiver materially hurting the biotech company's business.
The Biden administration supports a waiver "in service of ending this pandemic," even as it "believes strongly in intellectual property protections," US Trade Representative Katherine Tai said in a statement...
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Operatives who killed Saudi dissident journalist Jamal Khashoggi received...

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