WHO-backed vaccine resolution wins 24% support at Moderna
By Ross Kerber
BOSTON (Reuters) -A shareholder proposal calling on Moderna Inc to check transferring manufacturing of COVID-19 vaccines to less-developed nations gained 24% help from buyers on Thursday after it acquired a uncommon endorsement from the World Well being Group.
Proponents say manufacturing shifts may assist fight the worldwide pandemic. Moderna of Cambridge, Mass. opposed the measure, saying amongst different issues it already maximized its manufacturing capability with companions, and that poorer nations have declined thousands and thousands of doses that Moderna was ready to ship.
In an announcement giving the vote tally from its digital annual assembly, Moderna mentioned the end result “signifies that the numerous majority of our shareholders are supportive of the method we’ve taken, and we are going to proceed to handle points associated to vaccine entry.”
The end result was nonetheless a great displaying for a first-time shareholder proposal, mentioned Paul Hodgson, an impartial company governance skilled, and contemplating that Moderna insiders personal 17% of the corporate’s shares.
The message for administration from the result’s “there are extra necessary issues to consider than simply returns to buyers,” Hodgson mentioned.
The decision was a part of a seamless debate over the best way to speed up COVID-19 vaccine manufacturing in growing nations, the place vaccination charges have lagged far behind rich nations.
The proposal was one among three sponsored by the nonprofit Oxfam America. One other filed at Pfizer Inc gained 27% help, an organization spokesperson mentioned. A associated proposal at Johnson & Johnson didn’t cross and a closing tally can be posted in coming days, a consultant mentioned.
WHO Director-Common Tedros Adhanom Ghebreyesus had referred to as on shareholders to vote for the measure at Moderna, the primary such investor advocacy by the United Nations company.
His look by way of video was “an unprecedented look for an unprecedented pandemic” mentioned Peter Singer, WHO particular advisor.
(Reporting by Ross Kerber in Boston; Enhancing by Stephen Coates and David Evans)
