Moderna is set to open a new vaccine lab in Spain

According to Spanish Prime Minister Pedro Sanchez (on Tuesday), Moderna intends to invest approximately 500 million Euros in a new lab in Spain to increase vaccine production.

Sanchez tweeted that he met Moderna's Vice President and learned about the company's plans for expansion in the country.

Rovi, a Spanish pharmaceutical company, agreed earlier this year to extend its agreement with Moderna for another ten years to manufacture future drugs developed by using coronavirus vaccine's mRNA technology.

The agreement, according to Rovi, will include new investments to increase capacity at Rovi's plants.

Moderna, on the other hand, has stated that it plans to open an mRNA-vaccine quality checks laboratory in Madrid by 2023.

Moderna also stated that the 500 million Euro investment for this year would include a collaboration with Rovi.