Moderna, Yasmin Abu Taleb, Taylor Van Zeiss discussed on Afternoon News with Tom Glasgow and Elisa Jaffe

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Old companies mRNA COVID vaccine sales could top $19 billion in 2022 and a pair of small biotechnology companies claim their tech was hijacked to create the vaccine Yasmin Abu taleb is following the story for The Washington Post and spoke with Taylor van zeiss What are these companies And what are their claims against Moderna So these companies are called arbutus and Jenna van There are two small biotechnology companies And what they're alleging is that Moderna and fringed on a patent that they had for a technology that they say was key to Moderna's vaccine being successful It's something called lipid nanotechnology particles and it basically allows the mRNA to make its way through the body safely And they say that this is key to the Moderna's vaccine working and that Moderna infringed on their patent because they don't pay them royalties They don't have a license to use the technology for this vaccine According to the lawsuit could the Moderna vaccine have been completed so quickly without this technology They say it could not have the Moderna vaccine was completed very very quickly basically over a January weekend and it got into the phase one clinical trials extremely quickly in record time for a vaccine And they're saying this would not have been made possible without Moderna's use of their technology And what does this mean for consumers who might need another shot of Moderna or a booster Is there a risk of vials being pulled from the shelves Or is this just going to be kind of a bottom line financial hit if it goes the wrong direction for Moderna Fortunately there's not going to really be an impact on consumers from this lawsuit It's often novel pharmaceutical inventions go through these years long patent sites and this is probably what this is going to be as well And the company says that it intentionally didn't file this lawsuit until now because they didn't want to disrupt the process of shops going into arms But the vaccine has of course been wildly successful has made billions of dollars And they feel that they are entitled to some share of that whatever the courts determine is fair given that they say the vaccine could not have been made possible without their technology which they say took them years of painstaking work to develop And this isn't.

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