Moderna Inc (MRNA.O) has agreed to provide its new variant-adapted COVID-19 vaccine to the global scheme aiming to deliver shots to the world's poorest people.

The biotech company and vaccine alliance GAVI will cancel their existing supply deal for vaccines based on the original coronavirus strain. Instead, Moderna will supply up to 100 million doses of its new, omicron variant-adapted vaccines at its lowest available price from 2023.