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ABC World News Tonight With David Muir

borrowing gets more expensive. everything from new car loans to mortgages and credit cards. whit? >> all this having an impact on every american family. rebecca, thank you. now to the legal battle shaping up between moderna and pfizer. moderna is suing phaser and its german partner accusing them of copying the mrna technology behind the vaccines. pfizer denies the claim and says it will vigorously defend itself against the allegations. here's abc's erielle reshef. >> reporter: tonight, moderna suing vaccine giant pfizer and biontech, accusing its rival of violating patents on groundbreaking mrna technology used in its covid shots. the bio-tech startup saying, we believe that pfizer and biontech unlawfully copied moderna's inventions, and they have continued to use them without permission. but moderna is not demanding any halt in the sales of pfizer vaccines. pfizer says it was surprised by the lawsuit, adding its own vaccine was based on biontech's

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ABC World News Tonight With David Muir

jonathan karl and pierre thomas standing by. severe storms slamming parts of the northeast. nearly 14 million on alert for powerful thunderstorms. rob marciano timing it all out. also developing, tonight, the plunge on wall street. investors reacting to tough words from the fed chair. the dow dropping more than 1,000 points. jerome powell saying more pain and rate hikes are ahead to bring down inflation and hold back a possible recession. rebecca jarvis breaking it down. the battle of the drug giants over the covid vaccine. moderna suing pfizer, saying its rival copied its technology. how pfizer is responding tonight, and what this could mean for the future of the covid shot. the dire warning from ukraine. the head of the country's nuclear agency telling abc news just how dangerously close the country's largest nuclear plant was to catastrophe and how it could happen again. one louisiana mother's personal struggle for an abortion. doctor's recommending she terminate her nonviable

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ABC World News Tonight With David Muir

proprietary mrna technology. we remain confident in our intellectual property supporting the pfizer/biontech vaccine, and will vigorously defend against the allegations of the lawsuit. >> some are arguing at least in an emergency situation, we need to at least temporarily waive patent rights to get more shots in arms. >> reporter: last year, moderna and pfizer reported $54 billion in covid vaccine sales combined. pfizer selling twice what moderna did. the highest one-year total for a pharmaceutical product in history. and the stakes are high. mrna technology is being used to develop drugs for everything, from hiv to autoimmune and cardiovascular diseases to cancer. >> erielle reshef joining us now. another health related headline got our attention tonight -- new concerns about the polio virus. and new york state officials say they're seeing sign of community spread. >> reporter: right, whit, officials here say they have

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