> Moderna created its vaccine in partnership with the National Institutes of Health and received $1.7 billion in federal grant money for clinical development.
It was extremely fortunate, as it turns out, that somebody had previously invested the megadollars to build that platform in hopes that it would turn out to be useful. It was a modestly risky bet, lots of biotech VC cash ends up being set on fire.
Nobody will invest in the next Moderna if they believe the Feds will effectively nationalize their investment if it turns out to be valuable/"essential" enough.