(Alliance News) - AstraZeneca PLC on Thursday said it secured agreements worth USD750 million to boost the manufacturing and distribution of its potential Covid-19 vaccine, the drugmaker is developing alongside the University of Oxford.
Astra said the pacts with the Coalition for Epidemic Preparedness Innovations and Gavi the Vaccine Alliance, both part of the Bill & Melinda Gates Foundation, and the Serum Institute of India, back its commitment to allow "global access" to the potential Covid-19 vaccine.
The FTSE 100 firm explained: "The company today reached a USD750 million agreement with CEPI and Gavi to support the manufacturing, procurement and distribution of 300 million doses of the vaccine, with delivery starting by the end of the year. In addition, AstraZeneca reached a licensing agreement with SII to supply one billion doses for low and middle-income countries, with a commitment to provide 400 million before the end of 2020.
"Together, the agreements mark the latest commitments to enable global access to the vaccine, including to low and middle-income countries, beyond AstraZeneca’s recent partnerships with the UK and US".
The University of Oxford recently kicked off a Phase II/III trial of the vaccine candidate in about 10,000 adult volunteers.
"Other late-stage trials are due to begin in a number of countries. AstraZeneca recognises that the vaccine may not work but is committed to progressing the clinical programme with speed and scaling up manufacturing at risk," Astra added.
Shares in the company closed 0.4% lower 8,564.07 pence each in London on Thursday.
By Eric Cunha; ericcunha@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
Astrazeneca (AZN)