COVID-19: WHO backed vaccine resolution wins 24 percent support at Moderna
The message for management from the result is "there are more important things to think about than just returns to investors," Hodgson said.;
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Boston: A shareholder proposal calling on Moderna Inc to study transferring production of COVID-19 vaccines to less-developed countries won 24% support from investors on Thursday after it received a rare endorsement from the World Health Organization.
Proponents say production shifts could help combat the global pandemic. Moderna of Cambridge, Mass. opposed the measure, saying among other things it already maximized its manufacturing capacity with partners, and that poorer countries have declined millions of doses that Moderna was prepared to deliver.
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.
Read also: Moderna seeks USFDA emergency use nod for COVID vaccine in children younger than 6
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