logo-loader
viewAstraZeneca

AstraZeneca reaches 2bn capacity for coronavirus vaccine doses, receives more funds from Bill Gates’ organisation

The pharma giant is producing the candidate developed by Oxford University, which is to release results on the second phase of trials by next month

AstraZeneca - AstraZeneca reaches 2bn capacity for coronavirus vaccine doses, receives more funds from Bill Gates’ organisation

AstraZeneca PLC (LON:AZN) has doubled capacity to 2bn doses of coronavirus (COVID-19) vaccine after fresh funding from Bill Gates’ organisation.

Late on Thursday, the FTSE 100-listed firm signed a US$750mln deal with global vaccine organisations CEPI (part of the Bill & Melinda Gates Foundation) and Gavi to deliver 300mln doses at the end of the year.

READ: AstraZeneca boosts capacity for coronavirus vaccine candidate, receives US$1bn in US funding

It also reached a licensing agreement with the Serum Institute of India to supply 1bn doses for low-and-middle-income countries.

The pharma giant has agreed to manufacture and distribute the candidate developed by Oxford University, which is to release results on the second phase of trials by next month.

The first deliveries, announced last month, were scheduled to start in September to distribute jabs to the 30,000 participants of the final phase of clinical trials.

"We are starting to manufacture this vaccine right now - and we have to have it ready to be used by the time we have the results," chief executive Pascal Soriot told the BBC on Friday.

"Of course, with this decision comes a risk but it's a financial risk and that financial risk is the vaccine doesn't work… Then all the materials, all the vaccines, we've manufactured will be wasted."

Expenses for the vaccine, which will not be produced for a profit during the pandemic, are expected to be offset by funding by governments.

Shares were flat at 8,509p on Friday at noon.

Quick facts: AstraZeneca

Price: 8660 GBX

LSE:AZN
Market: LSE
Market Cap: £113.64 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Benchmark Holdings focused on making core business 'commercially profitable'

Benchmark Holdings PLC's (LON:BMK) CEO Trond Williksen and CFO Septima Maguire says they're pleased with what's been achieved with its restructuring programme following the sales of FishVet and Improve International. Williksen says it demonstrates their ability to execute and deliver on its...

6 hours, 12 minutes ago

2 min read