US health officials are reevaluating a $590 million contract for bird flu shots that the Biden administration awarded to 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 Moderna’s Covid vaccine. The bird flu shot contract was awarded to Moderna in the Biden administration’s final days, sending the company’s 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 didn’t respond to a request for comment.
The US is in the midst of a record-breaking bird flu outbreak that’s affected dozens of cattle herds along with poultry flocks nationwide, sending 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.
🕊️BIRD FLU SHOT UNDER REVIEW
— ✝️ Dr Margaret Aranda Ferrante, MD PhD FACFEI ♿️ (@TheRebelPatient) February 27, 2025
— Trump may halt Moderna bird flu shot funding
— HHS needs to “review” due to 'oversight'
— CDC says bird flu has LOW RISK to the public
— Moderna's shares drop 5.5%
— Pfizer falling, felt to be volatile
Maybe shots aren’t such a good investment.… pic.twitter.com/9Gd9r01Lfb
