Moderna

WHO-backed vaccine resolution wins 24% support at Moderna

In a statement giving the vote tally from its virtual annual meeting, Moderna said the result “indicates that the significant majority of our shareholders are supportive of the approach we have taken, and we will continue to address issues related to vaccine access.”

The result was still a good showing for a first-time shareholder proposal, said Paul Hodgson, an independent corporate governance expert, and considering that Moderna insiders own 17% of the company’s shares.

The message for management from the result is “there are more important things to think about than just returns to investors,” Hodgson said.

The resolution was part of a continuing debate over how to accelerate COVID-19 vaccine production in developing countries, where vaccination rates have lagged far behind wealthy countries. read more

The proposal was one of three sponsored by the nonprofit Oxfam America. Another filed at Pfizer Inc (PFE.N) won 27% support, a company spokesperson said. A related proposal at Johnson & Johnson (JNJ.N) did not pass and a final tally will be posted in coming days, a representative said.

A vial and sryinge are seen in front of a displayed Moderna logo in this illustration taken January 11, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

WHO Director-General Tedros Adhanom Ghebreyesus had called on shareholders to vote for the measure at Moderna, the first such investor advocacy by the United Nations agency.

His appearance via video was “an unprecedented appearance for an unprecedented pandemic” said Peter Singer, WHO special advisor.

Reporting by Ross Kerber in Boston; Editing by Stephen Coates and David Evans

Our Standards: The Thomson Reuters Trust Principles.

 

Reuters source:

https://www.reuters.com/business/healthcare-pharmaceuticals/who-says-pandemic-justifies-leaders-pitch-moderna-meeting-2022-04-28