Oxford Biomedica Inks New Three Year Deal To Make AstraZeneca's COVID-19 Vaccine

Author: Vandana Singh | July 01, 2022 06:42am

Oxford Biomedica plc (OTC:OXBDF) signed a new three-year agreement to potentially make AstraZeneca Plc's (NASDAQ:AZN) COVID-19 vaccine beyond 2022.
The new agreement represents an expansion of the original master supply and development agreement announced between the two companies in September 2020.
The manufacture of COVID-19 vaccines at Oxford Biomedica's Oxbox facility, as part of the original commitment, is expected to complete in the last quarter of 2022.
Under the expanded deal, AstraZeneca will have access to Oxford Biomedica's Oxbox manufacturing facility to produce its shot on an as-needed basis beyond 2022.
Oxford Biomedica expects to recognize aggregate revenues of approximately £30 million from AstraZeneca in the current financial year.
"I am delighted that our close partnership with AstraZeneca has been extended. I am proud of the work of all our colleagues at Oxford Biomedica that has enabled us to deliver more than 100 million doses of lifesaving COVID-19 vaccine," Roch Doliveux, Chair and Interim CEO of Oxford Biomedica, commented.
Price Action: AZN shares are down 1.89% at $64.82 during the premarket session on the last check Friday.