By Dhirendra Tripathi

Investing.com – Moderna stock (NASDAQ:) traded nearly 3% lower in Monday’s premarket a day after Financial Times reportedA shareholder proposal has forced the company to split its Covid-19 technology.

It also asks the company to explain why prices are so high considering the government aid it received.

Legal & General Investment Management, the London-based asset manager, is arguing that even as the vaccine-make got at least $2.5 billion from the US government, it has shipped vaccines to mostly wealthy countries and has not transferred its technology to manufacturers in low- or middle-income countries.

Moderna opposes the Securities and Exchange Commission proposal.

FT reported that Oxfam (a confederation worldwide of 21 charities) has teamed with investors in order to file petitions against Moderna. Pfizer (NYSE:) To demand more vaccine sharing.

Moderna and Pfizer were both under intense pressure by activists and politicians to reduce their vaccine prices, and to increase production so that they can provide vital shots in poorer nations.

Moderna finds itself in an unusual position due to the fact that it co-developed its vaccine with US National Institutes of Health. Barney Graham, one of the NIH scientists involved in the development process, told the paper earlier the government’s role in producing the vaccine gave it a “leverage” over Moderna in setting prices, something the company has aggressively pushed back against.