Merck Sold Direct Holding In Moderna During First Half Of Q4

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Merck (MRK) announced that it divested its direct holding in Moderna (MRNA) in the first half of the fourth quarter. As such, Merck expects to record a "small" gain.

Merck's direct investment in Moderna was initiated in 2015 and increased in 2018, reflecting a research collaboration between the two companies that was announced and expanded in those years. Merck said it achieved a "substantial gain" on its direct holding in Moderna over the life of the investment. Merck retains exposure to Moderna indirectly through its investment in venture funds.

"Merck and Moderna continue to collaborate on the development of personalized cancer vaccines as well as a cancer vaccine that encodes the four most common KRAS mutations," the company added.

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