Benzinga | Apr 6, 2021 07:33AM EDT

Catalent To Boost Output Of Finished Vials For Moderna's COVID-19 Shot: WSJ

* Catalent Inc (NYSE:CTLT) is reportedly expanding its U.S. production of Moderna Inc's (NASDAQ: MRNA) COVID-19 vaccine to ensure the U.S. has ample supply as it ramps up vaccinations. Catalent helps Moderna fill its vaccine in vials for shipment.

* This new deal builds on Catalent's agreement from last June to help produce Moderna's vaccine. Catalent is dedicating a high-speed production line at its Indiana plant to do fill-finish as part of the expansion.

* According to Wall Street Journal, Catalent has reached an agreement with Moderna to nearly double the vaccine output at Catalent's Bloomington plant this month to about 400 vials a minute.

* New doses will be ready for shipping starting next month, and the upgraded plant will be able to fill an additional 80 million vials a year.

* The expansion will help Moderna reach its goal of supplying an additional 100 million doses to the U.S. by the end of May and another 100 million doses by the end of July.

* Moderna declined to comment to WSJ.

* Last month, Catalent said it would expand the production of Johnson & Johnson's (NYSE: JNJ) COVID-19 shot at its plant in Italy.

* With the production upgrades, Catalent expects to potentially manufacture about one billion doses of Moderna's COVID-19 vaccine annually through 2023.

* Price Action: MRNA shares are up 1.1% at $131.35 in the premarket on the last check Tuesday, while CTLT shares closed 0.8% lower at $105.75 on Monday.