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Moderna Plans to Ramp Up COVID-19 Vaccine Production by 20%

Pat Moore, with the Chester County Health Department, prepares Moderna COVID-19 vaccine to administer to emergency medical workers and healthcare personnel at the Chester County Government Services Center, Dec. 29, 2020, in West Chester, Pennsylvania.

Drug maker Moderna says it plans to ramp up production of its COVID-19 vaccine by 100 million more doses than what it originally forecast.

The Massachusetts-based company said Monday it would produce 600 million doses in 2021.

So far, the company says it has supplied 18 million doses of a promised 200 million to the U.S. government.

U.S. states have been administering both the Moderna vaccine and a vaccine produced by Pfizer-BioNTech since late last month.

Both vaccines are reportedly highly effective in preventing coronavirus infection.

According to MarketWatch, Moderna's stock is up 453.0% over the past year.