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Oxford Biomedica Lifts View As AstraZeneca Requires More COVID-19 Vaccine Batches In H2

(RTTNews) - Oxford Biomedica plc (OXB.L), a gene and cell therapy group, announced Tuesday that it has raised fiscal 2021 outlook for expected cumulative revenues from its Covid-19 vaccine supply agreement with AstraZeneca UK Ltd (AZN, AZN.L).

The company noted that AstraZeneca agreed to an increase in the number of batches required from Oxford Biomedica in the second half of 2021 following successful manufacture of large-scale batches of AstraZeneca's COVID-19 Vaccine.

Oxford Biomedica's expected cumulative revenues from AstraZeneca by the end of 2021 is now in excess of 100 million pounds, higher than previously expected above 50 million pounds.

The company also expects significant growth in Group Operating EBITDA in 2021.

It was in September 2020 that the company signed an 18 month supply agreement signed with AstraZeneca UK Ltd for manufacture of COVID-19 Vaccine.

The company said it does not expect the commitment to AstraZeneca for vaccine production to have any impact on its current partnerships or ability to secure and support additional new partnerships in the cell and gene therapy field.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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