Serum Institute to invest $68 million in UK vaccine maker Oxford Biomedica

By Sumit Blogs -

Vaccine maker Serum Institute of India (SII) will invest 50 million pounds ($68 million) in Oxford Biomedica to help fund the development of a plant that manufactures COVID-19 shots, the British company said on Wednesday.

Serum – the world’s largest vaccine manufacturer by volume – and Oxford Biomedica both produce AstraZeneca’s COVID-19 vaccine.

Serum Life Sciences Ltd, a unit of India-based SII, will pick up a 3.9% stake in Oxford Biomedica as part of the deal.

Oxford Biomedica, spun off from Oxford University in 1995, said it would use the funds to develop the fallow area at its Oxbox plant into a manufacturing space expected to come online in mid-2023.

The Oxbox plant currently makes COVID-19 shots, and the new space is expected to include a capacity to produce viral vector-based products including vaccines, Biomedica said.

Shares of the British firm were up 5% on the London Stock Exchange, as of 0745 GMT.

Serum’s investment comes four months after Oxford Biomedica doubled its sales estimates from the AstraZeneca shot to more than 100 million pounds by 2021-end.

A representative for SII did not immediately respond to Reuters’ request for a comment.

For Serum, the deal is the second in as many weeks, following its planned purchase of a 15% stake in Indian drugmaker Biocon’s biologics unit.

The Oxford-based company said on Wednesday it swung to a profit after its half-yearly revenue more than doubled.

Credits – Source – https://ift.tt/3CPnpez

The post Serum Institute to invest $68 million in UK vaccine maker Oxford Biomedica appeared first on Stay in Gurgaon.

Comments

Post a Comment

Popular posts from this blog

Flat sale of flu drugs hints at no unusual rise in infections

By Sumit Blogs -
Image
By Economic Times – Flat sale of flu drugs hints at no unusual rise in infections Industry executives and chemists said the April sales data showed a month-on-month decline of 30-40%. But even though the lockdown is seen to be impacting sales of most drugs, the pattern for medicines for infections and flus is no different.Last Updated: Apr 30, 2020, 11.23 AM ISTAgenciesExperts said the decline in sales was primarily because of the lockdown and other restrictions which forced people to stay indoors. (This story originally appeared in on Apr 30, 2020)NEW DELHI: Sales of anti-infectives (antibiotics and antivirals), respiratory drugs, painkillers and analgesics — some key medicines used for influenza-like illnesses — have remained mostly unchanged in last three months (January to March), partly explained by the lockdown but also indicating no unusual rise in flu-type infections that might point to a wider and undetected spread of Covid-19. Sales of most medicines, including this set of
Read more

10YearsForSimha: Reasons behind film’s success

By Sumit Blogs -
Image
By Times of India – 10YearsForSimha: Reasons behind film’s success TIMESOFINDIA.COM | Last updated on – Apr 30, 2020, 06:00 ISTclose01/6Take a look at the reasons behind the film’s successDirected by Boyapati Srinu, the 2010 film Simha was a game-changer among Tollywood films that was lauded, not only for Nandamuri Balakrishna’s intense performance in the dual role but also the gripping narration of the filmmaker. Balayya and Nayanthara were seen on the big screen for the first time ever in the film. The action drama made a special place in the hearts of the audience because of its simple storytelling, superhit songs and unbeatable chemistry between the lead pair. The movie has completed a decade, but the essence is as fresh as it was back then. As the film clocks 10 years of its release, find out the reasons behind the massive success of the Balakrishna starrer.readmore02/6​Boyapati Srinu’s gripping narrationBefore Simha, Boyapati Srinu had delivered Bhadra (2005) and Tulasi (2007),
Read more

Hrithik-Saif’s Vikram Vedha hits a roadblock

By Sumit Blogs -
Image
The stage was about to be set for Hrithik Roshan and Saif Ali Khan’s ‘Vikram Vedha’ in Mumbai’s Film City. The material had reached. The artisans had been hired. But the lights have now been dimmed. Madhavan and Vijay Sethupathi’s hit movie Vikram Vedha’s Hindi remake will not go on floors by mid-July as per the original plan. The new delta virus of COVID has sent shudders down many spines and many films which were being laid out on an expansive scale have been either held back or shifted their shoots abroad. The first schedule of this Hrithik-Saif movie will now be shot abroad. A source says, “The Mumbai schedule will be done but later.” Adds the source, “It’s a call that was taken yesterday. It wasn’t an easy call to take, no doubt, but the fact that it’s going to be a costly set made the makers take the safer route rather than be sorry later.” When contacted, General Secretary of FWICE (Federation of Western India Cine Employees), Ashok Dubey, confirmed that the makers of ‘V
Read more