Moderna says looking for opportunities

U.S. vaccine maker Moderna said on Friday it was looking for opportunities in China after confirming that it had registered a legal entity in the world’s second largest economy.
The U.S. pharmaceutical and biotech firm registered a unit called Moderna (China) Biotech Limited in Shanghai on May. 24 with capital of $100 million, according to Chinese data providers including company database Qichacha.
The company prior to this had no presence in mainland China. It opened an office in Hong Kong last year as part of an Asia expansion.
Its establishment of a mainland China unit comes as its revenue growth slows sharply due to waning global demand for its COVID vaccine, the U.S. company’s only approved product.