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AstraZeneca agrees to produce Oxford University’s coronavirus vaccine candidate on not-for-profit basis

The pharma giant would be responsible for the development and worldwide manufacturing and distribution of the candidate, if and when it is approved

AstraZeneca - AstraZeneca agrees to produce Oxford University’s coronavirus vaccine candidate on not-for-profit basis

AstraZeneca PLC (LON:AZN) has signed an agreement with the University of Oxford to produce and distribute its coronavirus vaccine if and when it is approved.

The FTSE 100-listed pharma giant would be responsible for the development and worldwide manufacturing and distribution of the candidate.

READ: The four coronavirus vaccine candidates to watch

The two parties will operate on a not-for-profit basis for the duration of the coronavirus pandemic, using proceeds to cover the costs of production and distribution exclusively.

Royalties received by the university post-pandemic will be reinvested in research.

The university’s Jenner Institute begun the first phase of trials last week, after receiving the priority label by the government.

Data from the trial could come as early as next month, with phase 2 potentially starting around June.

Shares in AstraZeneca jumped 3% to 8,449.72p on Thursday after lunch.

Quick facts: AstraZeneca PLC

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