Oil Prices Plunge as Strait of Hormuz Reopens Amid U.S.-Iran Ceasefire Talks 
U.S. Stock Futures Fall as Iran Tensions Escalate and Oil Prices Surge 
Asian Stocks Rise as Tech Gains Offset US-Iran Tensions, Oil Prices Add Pressure 
Anthropic CEO Meets Trump Officials to Discuss Powerful New AI Model Mythos 
How Technology Is Reshaping Modern Business: From Operations to Customer Experience 
U.S. Dollar Steadies Near Multi-Week Lows Amid Iran Peace Talk Hopes and Global Market Shifts 
Daikin Industries Stock Surges 14% After Elliott Investment Management Discloses Major Stake 
Oil Prices Dip as Middle East Peace Hopes Grow Amid Iran-U.S. Talks 
Greg Abel Sells Berkshire Hathaway Stocks Managed by Former Investment Manager Todd Combs 
Asian Currencies Hold Steady Amid Iran Peace Talks and BOJ Rate Hike Uncertainty 
Apple Wins ITC Ruling, Keeping Blood-Oxygen Feature on Apple Watch 
Asian Currencies Slip as Dollar Gains Safe-Haven Strength Amid U.S.-Iran Tensions 
Indian Refiners Use Yuan via ICICI Bank to Pay for Iranian Oil Under U.S. Sanctions Waiver 
TSMC Posts Record Q1 Profit Fueled by AI Chip Demand 
Dollar Retreats as Strait of Hormuz Reopens, Easing Safe-Haven Demand 
Oil Prices Surge as U.S.-Iran Tensions Escalate and Strait of Hormuz Closes 
Nidec Stock Rises After Accounting Probe Report Eases Delisting Concerns 
Moderna Inc. enters a historic $1 billion deal with China to research, develop, and produce exclusive mRNA medicines in the country. The agreement, announced amid growing Sino-American tensions, signifies Beijing's increasing openness to foreign pharmaceutical involvement.
The Cambridge, Massachusetts-based pharmaceutical and biotechnology company announced the new deal with Chinese officials on Wednesday, July 5. The agreement is for Moderna to research, develop and produce messenger RNA medicines in the country.
CNBC noted that an agreement was reached despite the growing tensions between China and the United States. Moderna and Beijing signed a memorandum of understanding (MOU) and land collaboration deal to develop drugs that will be made "exclusively for the Chinese people." This means the two sides agreed that the new drug would never be exported and remain in China.
A local media publication reported earlier this week that Moderna is set to invest about $1 billion in the project. It was added that Moderna's chief executive officer, Stephane Bancel, is set to visit Shanghai, possibly to talk more about the deal and for facility inspection.
"These agreements are focused on strengthening health security by targeting unmet needs and contributing to the ecosystem of medical solutions available to patients in China," the company's spokesman stated.
In a separate statement that was sent to Yahoo Finance, Moderna said, "We signed a memorandum of understanding and a related land collaboration agreement to work toward opportunities for Moderna to research, develop and manufacture mRNA medicines in China."
The deal shows that Moderna is trying to take advantage of the success of its COVID-19 vaccine that has been used on people worldwide. The vaccine used a platform called mRNA to push human cells to make an immune response against a virus. At any rate, the agreement was sealed on Wednesday, and this is Moderna's very first deal with the Chinese government.
Photo by: Ian Hutchinson/Unsplash
