Moderna has put the delivery of the COVID-19 vaccine to the EU on hold for several months.

As demand for Moderna's COVID-19 vaccine falls, Switzerland's health officials announced last week that the country will destroy over 620,000 expired doses.

On Thursday, Moderna Inc announced that it had agreed to delay the delivery of a few COVID-19 vaccines to the EU for several months, to beginning next year or late 2022.

Moderna shares fell well almost 2% due to the delay, despite the company maintaining its $21 billion vaccine demand forecast for 2022.

The doses were supposed to be delivered in the 2nd quarter, according to a statement from the European Commission.

The bloc revised contracts with Pfizer Inc (PFE.N) and its German partner BioNTech SE in April to postpone vaccine delivery dates by 3 months in preparation for a possible fall booster campaign.

The demand for COVID-19 vaccines in the area has also decreased.

According to Stella Kyriakides, Commissioner for Health and Food Safety, the agreement has helped "optimize supply agreements and integrate them with present demand levels in our States."

As demand for Moderna's COVID-19 vaccine falls, Switzerland's health officials announced last week that the nation will destroy over 620,000 expired doses.

If the revised deal with Moderna is approved, European Union countries will be able to obtain a next-generation vaccine that targets both the original strain and the Omicron variant.