Moderna halts plans to build Kenya vaccine plant as Covid shot demand plunges

Moderna on Thursday said it has paused plans to build a vaccine manufacturing site in Kenya after a steep drop in demand for its Covid vaccines. The biotech company said it has not received any vaccine orders for Africa since 2022 and has taken more than $1 billion in losses and write-downs related to the cancellation of previous orders from the continent. Moderna's decision aligns with its broader effort to cut costs by resizing its Covid vaccine manufacturing footprint. The company's business took a major hit last year as demand...