Up to its receiving EUA approval for its covid mRNA product in December 2020 Moderna had only made losses since its founding. Then curiously, following a March 2020 personal meeting with then-President Trump where Bancel told the president Moderna could have a vaccine ready in a matter of months Moderna luck changed.
On May 15, Trump announced creation of Operation Warp Seed to rollout a COVID-19 vaccine by December. The head of the Presidential group was a 30-year R&D veteran of the large UK drug firm GSK, Moncef Slaoui. In 2017 Slaoui had resigned from GSK and joined the board of none other than Moderna. Under Slaoui’s Warp Speed, some $22 billion of US taxpayer money was thrown at different vaccine makers. Moderna was a prime recipient, a brazen conflict of interest but nobody seemed to care.
Slaoui funneled some $2 billion in government funds to his old company, Moderna, to develop the mRNA covid vaccine. Only under public criticism did Slaoui sell his stock in Moderna, making millions in profit from Moderna’s role as a covid vaccine leading candidate. Shortly after resigning at the end of the Trump presidency, Slaoui was fired by his old firm GSK from a company subsidiary following charges of sexual harassment of a female employee.