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Moderna leads all drugmakers in market-cap gain during COVID

Razor focus on cutting-edge technology gives new players an edge

Vials of Moderna's COVID-19 vaccine in Toronto. The company's investment in mRNA technology has paid off handsomely.   © Reuters

TOKYO -- Moderna has increased its valuation more than any other drugmaker in the world during the pandemic as new opportunities arising from the coronavirus boost sharp-focused newcomers to new heights.

Moderna's market capitalization rose by more than $130 billion between the end of September and Thursday to nearly $140 billion, according to a ranking compiled by QUICK-FactSet.

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