AstraZeneca says its Oxford vaccine deal allows it to add up to 20% of manufacturing costs

In this news, we discuss the AstraZeneca says its Oxford vaccine deal allows it to add up to 20% of manufacturing costs.

(Reuters) – AstraZeneca Plc AZN.L said on Friday its coronavirus vaccine deal with the University of Oxford would allow it to add up to 20% of manufacturing costs to cover additional expenses the manufacturer British drug must hire.

“In addition to manufacturing costs, the company incurs costs in excess of $ 1 billion worldwide, which include clinical development, regulation, distribution, pharmacovigilance and other expenses,” a spokesperson said. AstraZeneca in a press release.

“To cover these additional expenses, the company will add an amount equivalent to a maximum of 20% of manufacturing costs to ensure that there is no significant impact on its finances this year while continuing its efforts. to deliver the vaccine for no profit during the pandemic, ”the statement added.

AstraZeneca has already signed several supply and manufacturing agreements for more than 3 billion doses worldwide.

These agreements are being made with companies and governments as the company moves closer to reporting the first results of an advanced clinical trial. Developed by Oxford University and licensed to AstraZeneca in April, the vaccine is expected to be one of the first of the big pharmaceutical companies to gain regulatory approval.

The company had said earlier that it had created multiple supply chains to ensure that access to its vaccine is timely, broad and equitable for high and low-income countries.

The price and supply of investigational COVID-19 vaccines has been widely debated as richer countries inject billions of dollars into funding, and AstraZeneca has also secured protection against future liability claims.

Separately, AstraZeneca has resumed US testing of its experimental COVID-19 vaccine after regulatory approval, the company said on Friday.

Reporting by Kanishka Singh; edited by Grant McCool

Original © Thomson Reuters

Bollyinside - Latest News and Reviews
Enable registration in settings - general
Compare items
  • Total (0)
Compare
0