The latest reports suggest that Pfizer and BioNTech are to face a lawsuit filed by Moderna. According to reports, the legal teams at Moderna have filed a lawsuit against BioNTech and Pfizer.
BioNTech is the German partner of Pfizer, which is a multinational pharmaceutical company headquartered in the United States.
Why has Moderna Taken Competitors to Court?
According to the lawsuit filed by Moderna, BioNTech and Pfizer have alleged the COVID-19 vaccine patent infringement.
The legal team has claimed that the COVID-19 vaccine that Pfizer acquired approval for rollout in the United States was copied by the technology developed by Moderna.
The legal teams claimed that the technology Pfizer used for the development of the vaccine was copied from Moderna’s technology it developed years back.
Undermined Monetary Damages
According to sources, Moderna is seeking undermined monetary damages against Pfizer and its partner, BioNTech. The lawsuit has been filed by Moderna in Massachusetts at the US District Court.
In addition to the United States, the legal teams of Moderna have also filed a lawsuit in Dusseldorf, Germany, at the Regional Court.
Moderna officials announced on Friday that they were going to seek monetary damages against the competitors and would take them to court.
A statement made by Stephane Bancel
Stephane Bancel, the Chief Executive at Moderna talked about the reason behind filing the lawsuit against the competitors.
Bancel stated that the mRNA technology platform is a technology that they worked hard to pioneer. Therefore, it is their right to protect the technology that they spent so many resources and man-hours developing.
This is the reason why they have filed a lawsuit against Pfizer and BioNTech so they make sure that they send a strong message to those who copy their ideas and technology.
She added that their company has spent billions on the development of the technology that helped them manufacture vaccines for COVID-19.
They even spent a fortune on the acquisition of the patent to protect their technology against any infringements.
Apart from Moderna, the other companies quick enough to develop the vaccine for coronavirus were BioNTech and Pfizer. These groups were first in line to have developed the vaccine for coronavirus but according to Moderna, they copied their technology to achieve theirs.
Moderna claimed if Pfizer and BioNTech were to use different technology, it could have taken them years to acquire the vaccine.
However, with their mRNA technology that increases the speed of manufacturing of vaccines, their competitors were able to come up with the vaccine really fast.
If Moderna ends up winning the case against BioNTech and Pfizer, it will be able to claim billions of dollars in monetary damages.
Since the announcement, Moderna’s share prices have dipped 3.77% while shares of Pfizer and BioNTech have dipped 2.25% and 4.01% respectively.