NIFTY 50

Wockhardt announces COVID-19 vaccine partnership with UK government

Updated : August 04, 2020 12:26 PM IST

Wockhardt announced that it has entered into an agreement with the UK Government to fill finish COVID-19 vaccines. The manufacturing will be undertaken at CP Pharmaceuticals, a subsidiary of Wockhardt based in Wrexham, North Wales.

As per the terms of the agreement the company has reserved manufacturing capacity to allow for the supply of multiple vaccines to the UK Government in its fight against COVID19, including AZD1222, the vaccine co-invented by the University of Oxford and its spinout company, Vaccitech and licensed by AstraZeneca.

The government has reserved one fill and finish production line for its exclusive use for the next 18 months in order to guarantee the supply of vaccines required to fight COVID-19 in the UK, the company said.

“This is the arrangement which we have with the UK government to manufacture vaccines for them and to begin with it is the vaccine developed by Oxford. In the partnership with AstraZeneca we have this fill finished manufacturing facility in UK in Wrexham," said Habil F Khorakiwala, founder, chairman & group CEO, Wockhardt Ltd.

The company will not invest additional capital, he said.

The company will start manufacturing in September. The UK government plans to manufacture about 60 million doses of vaccine till the end of the year or early next year.

“P&L impact would be significantly better because of this. We expect turnover of about $45-50 million for the first 60 million vaccines we are supplying,” Khorakiwala said.

“The sales of Dexamethasone is doubling as it is very routinely utilized after reports that steroids especially Dexamethasone is very successful," he added.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more
Live TV