(Adds details from report, background)
Feb 28 (Reuters) - AstraZeneca Plc has sold its 7.7%
stake in Moderna Inc for more than $1 billion after the
U.S. biotechnology company's shares soared on the back of its
coronavirus vaccine breakthrough, The Times reported.
The report added that it was not clear over what period
British-based AstraZeneca sold its holding in Moderna.
AstraZeneca and Moderna did not immediately respond to
requests for comment.
AstraZeneca is retaining partnership with Moderna on other
disease treatments and could sell its AstraZeneca/Oxford
University COVID-19 vaccine on a commercial basis in future if
the virus becomes endemic, the report added.
Moderna, whose vaccine is cleared for emergency use against
COVID-19 in the United States, said last week it was expecting
sales of $18.4 billion from its coronavirus vaccine this year.
(Reporting by Maria Ponnezhath in Bengaluru; Editing by
Jonathan Oatis and Peter Cooney)