focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.

Less Ads, More Data, More Tools Register for FREE
Stephen Yiu, FM at WS Blue Whale, discusses Nvidia, Visa/Mastercard, Lam Research & Allied Materials
Stephen Yiu, FM at WS Blue Whale, discusses Nvidia, Visa/Mastercard, Lam Research & Allied MaterialsView Video
Ben Turney, CEO at Kavango Resources, explains the company's progress from exploration to mining
Ben Turney, CEO at Kavango Resources, explains the company's progress from exploration to miningView Video

Latest Share Chat

Indian vaccine giant SII warns of supply hit from U.S. raw materials export ban

Fri, 05th Mar 2021 12:54

NEW DELHI, March 5 (Reuters) - A temporary U.S. ban on
exports of critical raw materials could limit the production of
coronavirus vaccines by companies such as the Serum Institute of
India (SII), its chief executive said in a World Bank panel
discussion https://www.worldbank.org/en/events/2020/12/14/7th-south-asia-economic-policy-network-conference-on-vaccinating-south-asia
on Thursday.

SII, the world's biggest vaccine maker, has licensed the
AstraZeneca/Oxford University product and will soon
start bulk-manufacturing the Novavax shot.

"There are a lot of bags, filters and critical items that
manufacturers need," Adar Poonawalla said. "The Novavax vaccine,
which we are a major manufacturer of, needs these items from the
U.S."

He said the recent invocation of the U.S. Defence Production
Act to preserve vaccine raw materials for its own companies went
against the global goal of sharing vaccines equitably.

The White House said this week it had used the act to help
drugmaker Merck & Co produce Johnson & Johnson’s
COVID-19 vaccine.

"This really needs to be looked at because if they are
talking about building capacity all over the world, the sharing
of these critical raw materials, which just can't be replaced in
a matter of six months or a year, is going to become a critical
limiting factor," Poonawalla said.

India's Biological E has tied up with J&J to potentially
contract manufacture up to 600 million doses of its vaccine per
year. They have signed an initial deal but production volumes
have not been agreed upon.
(Reporting by Krishna N. Das and Arghyadeep Dutta; editing by
Jason Neely)

Related Shares

More News
Today 10:27

AstraZeneca trials yield positive results for immunocompromised patients

(Alliance News) - AstraZeneca PLC on Thursday said results from recent trials revealed a significant reduction in cases of Covid-19.

12 May 2024 13:25

Pfizer and AstraZeneca announce new investments of nearly $1 billion in France

PARIS, May 12 (Reuters) - Leading healthcare companies Pfizer and AstraZeneca announced on Sunday new investments in France worth a total of nearly ...

8 May 2024 19:10

Sector movers: Aerospace and Defence, Pharma pace gains

(Sharecast News) - London's main stock market gauges continued to push higher in the middle of the week, even as investors waited on the Bank of Engla...

8 May 2024 17:46

FTSE 100 hits record high, pound slips ahead of BoE verdict

FTSE 100 up 0.5%, FTSE 250 adds 0.4% *

8 May 2024 16:36

London close: Stocks rise further ahead of BoE decision

(Sharecast News) - London's stock markets closed with gains on Wednesday, bolstered by a dip in the value of the pound against both the dollar and the...

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.