Aug 26, 2022
By Angus Gillespie
Pharmaceutical giant Moderna is suing Pfizer and its German partner BioNTech on Friday for patent infringement in the development of the first COVID-19 vaccine approved in the United States.
According to the filing, Moderna alleges that Pfizer and its partners copied the medical technology that Moderna says was developed by them years before the pandemic was first detected in March, 2020.
The negative news took an immediate impact on Pfizer’s stock, which fell about 1%. BioNTech U.S.-listed shares were down about 1.5%. Despite that, Moderna shares fell even more — losing almost 2% on Friday.
It has not been revealed what type of monetary damages Moderna is seeking.
The lawsuit was filed in U.S. District Court in Massachusetts. It’s also expected a suit will be filed in Germany, the country where BioNTech is headquartered.