leadf
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: 8457 GBX

LSE:AZN
Market: LSE
Market Cap: £110.98 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

ImagineAR signs two year deal with Valencia FC to bring Augmented Reality to...

ImagineAR (CSE: IP-OTCQB: IPNFF) CEO Alen Paul Silverrstieen and Valencia Chief Digital Innovation Officer Franco Segarra joined Steve Darling from Proactive to bring news the company has signed a two-year partnership agreement with Valencia FC, one of the biggest soccer clubs in the world and...

1 hour ago

2 min read