US health officials are reevaluating a $590 million contract for bird flu shots that the Biden administration awarded toΒ Moderna Inc., people familiar with the matter said.
The review is part of a government push to examine spending on messenger RNA-based vaccines, the technology that powered Modernaβs Covid vaccine. The bird flu shot contract was awarded to Moderna in the Biden administrationβs final days, sending the companyβs stock up 13% in the two days following the Jan. 17 announcement.
Shares of Moderna fell as much as 4.9% in trading before US markets openedThursday. The company didnβt respond to a request for comment.
The US is in the midst of a record-breaking bird flu outbreak thatβs affectedΒ dozens of cattle herdsΒ along with poultry flocks nationwide, sendingΒ egg pricessoaring. While human cases have been relatively rare, the virus has caused deaths in the past, and experts are concerned that it could become more transmissible and dangerous.
ποΈBIRD FLU SHOT UNDER REVIEW
— βοΈ Dr Margaret Aranda Ferrante, MD PhD FACFEI βΏοΈ (@TheRebelPatient) February 27, 2025
β Trump may halt Moderna bird flu shot funding
β HHS needs to βreviewβ due to 'oversight'
β CDC says bird flu has LOW RISK to the public
β Moderna's shares drop 5.5%
β Pfizer falling, felt to be volatile
Maybe shots arenβt such a good investment.β¦ pic.twitter.com/9Gd9r01Lfb
