Laboratorios Farmaceuticos Rovi, S.A. (41L.SG)

UPDATE 2-Moderna to cut mRNA drug substance production at Lonza facility

Moderna said on Tuesday it will cut production of mRNA drug substance for its COVID-19 vaccine at Lonza's facility in Switzerland this quarter as part of a plan to align manufacturing of the shots with lower post-pandemic demand. The U.S. company had said last week it was in talks with its partners that fill vials and syringes globally to downsize vaccine production. Such a move will help Moderna adjust to the sharp fall in demand for COVID vaccines as payers cut back orders for the shots, partly following the end of the public health emergency for the disease.