- Oxford Biomedica plc (OTC:OXBDF) signed a new three-year agreement to potentially make AstraZeneca Plc's (NASDAQ:AZN) COVID-19 vaccine beyond 2022.
- The new agreement represents an expansion of the original master supply and development agreement announced between the two companies in September 2020.
- The manufacture of COVID-19 vaccines at Oxford Biomedica's Oxbox facility, as part of the original commitment, is expected to complete in the last quarter of 2022.
- Under the expanded deal, AstraZeneca will have access to Oxford Biomedica's Oxbox manufacturing facility to produce its shot on an as-needed basis beyond 2022.
- Oxford Biomedica expects to recognize aggregate revenues of approximately £30 million from AstraZeneca in the current financial year.
- "I am delighted that our close partnership with AstraZeneca has been extended. I am proud of the work of all our colleagues at Oxford Biomedica that has enabled us to deliver more than 100 million doses of lifesaving COVID-19 vaccine," Roch Doliveux, Chair and Interim CEO of Oxford Biomedica, commented.
- Price Action: AZN shares are down 1.89% at $64.82 during the premarket session on the last check Friday.
