Domestic pharma. co. (buyers, construction, tax)

[BruSan]

Well, firstly I must say this announcement of Canada partnering (giving them financial guarntees or otherwise known as throwing our money their way) with Moderna is good news for Canadians but I must also inject a cautionary note along with my support for this. So many of these turn out to be taxpayer funded enterprises only to have whatever profits and ultimate controls go towards foreign entities.

Ontarians will almost certainly be aware of the 407 toll road debacle as just one example along with Manitobans surely being aware of the service contract nonsense for our F-18 fighter jets. Not to mention Albertans ongoing frustration over just about everything of Ottawa origin as just a couple of examples.

Possible scenarios: Another pandemic results in this manufacture making contract commitments to foreign purchasers prior to Canadian government getting off it's duff to act. Hence; Canada being a believer of contract law having no recourse but to watch as first or significant number of supplies go offshore with CEO's and Government just shrugging their shoulders with a "what can we do" gesture. End result we're no further ahead than we were with Moderna having a brand spanking new facility paid for by Canadians to produce a product for maximum profit from foreign buyers.

How would we expect to occasion priority control over a product manufactured by anyone within Canada unless Canada is a majority shareholder in that entity? Are we prepared to spend taxpayer money to buy up Moderna shares?

It would seem to me that the only way Canada can guarantee a product necessary for Canadian health and well being is to build build a facility of our own using scientists of our own and making it a Crown owned entity prepared to contract with whomever only after a Canadian need has been filled.

We (the elected) are not prepared to do that because that would gobble up huge amounts of tax money thereby restricting all those in Ottawa from using those funds to pander to huge supporters and their pet projects that would enable them to occasion board of director's postings post service.

I know; I'm being a grumpy curmudgeon again.

[cdnirene]

The agreement will give Canada priority:

The agreement will see Canada gain access to Moderna's mRNA "development engine" and get priority access to the doses. Bancel (Moderna CEO) said Canada can also ask Moderna to shift its production lines to respond to a new or emerging threat.

Bancel said similar agreements are now being negotiated with other countries as well.

https://www.ctvnews.ca/health/corona...ears-1.5541042

[BruSan]

Originally Posted by cdnirene

The agreement will give Canada priority:




https://www.ctvnews.ca/health/corona...ears-1.5541042

That is somewhat reassuring..

Regardless, the facility being built in Canada is nonetheless a good step to bringing back a manufacturing component lost for decades.

[edwardsyzzurphands]

Originally Posted by BruSan

That is somewhat reassuring..

Regardless, the facility being built in Canada is nonetheless a good step to bringing back a manufacturing component lost for decades.

As cdnirene mentioned, there are a lot of protections in this deal for the Canadian taxpayer. Overall this is a great deal for Canada and Moderna respectively. We have just scratched the surface of what can be done with this technology, getting ahead (or on par in Canada's case) of the curve is the smart way to invest in the country.

It is also a great deal for me since I bought into Moderna at IPO at $23/a share....The run they went on is incredible.

[cdnirene]

Originally Posted by BruSan

That is somewhat reassuring..

Regardless, the facility being built in Canada is nonetheless a good step to bringing back a manufacturing component lost for decades.

Previous announcements:

1. Resilience Biotechnologies in Ontario is expanding its manufacturing and fill-finish capacity for a number of vaccines and therapeutics, including mRNA. This will allow Resilience to manufacture between 112 million and 640 million doses of mRNA product each year. Construction to be completed in 2024.

2. I assume Novavax still is on schedule to start producing its protein subunit COVID vaccine at the new National Research Council biomanufacturing facility in Montreal by the end of this year - that’s up to 2 million doses a month.

3. Medicago‘s plant-based (VLP) COVID candidate is expected to start being produced in Quebec in 2023.

4. Longer term, Sanofi’s expansion of its Toronto facility is expected to be complete by 2027. It will be able to manufacture enough flu vaccine for all Canadians each year. As a bonus, the plant can also be retooled to produce vaccines for coronaviruses. Sanofi has a protein-based COVID vaccine in a phase 3 clinical trial.

Canada’s investments in the sector have been very strategic so far.

[BruSan]

Originally Posted by cdnirene

Previous announcements:

1. Resilience Biotechnologies in Ontario is expanding its manufacturing and fill-finish capacity for a number of vaccines and therapeutics, including mRNA. This will allow Resilience to manufacture between 112 million and 640 million doses of mRNA product each year. Construction to be completed in 2024.

2. I assume Novavax still is on schedule to start producing its protein subunit COVID vaccine at the new National Research Council biomanufacturing facility in Montreal by the end of this year - that’s up to 2 million doses a month.

3. Medicago‘s plant-based (VLP) COVID candidate is expected to start being produced in Quebec in 2023.

4. Longer term, Sanofi’s expansion of its Toronto facility is expected to be complete by 2027. It will be able to manufacture enough flu vaccine for all Canadians each year. As a bonus, the plant can also be retooled to produce vaccines for coronaviruses. Sanofi has a protein-based COVID vaccine in a phase 3 clinical trial.

Canada’s investments in the sector have been very strategic so far.

All good info.

Perhaps if bitten enough times; even governments can learn.