The British drug maker AstraZeneca Plc said that it has the leeway to be able to add up to 20 per cent of manufacturing costs for its vaccine against the novel coronavirus under its deal with the Oxford University. The company said that this addition of costs will help it to provide some cover for the additional costs that it will have to bear in the process of developing and manufacturing the vaccine which it is doing in partnership with the Oxford University.
“In addition to the manufacturing costs, the company is incurring costs in excess of $1 billion globally that include clinical development, regulatory, distribution, pharmacovigilance and other expenses”, an AstraZeneca spokesman said in a statement.
“To cover these additional expenses, the company will add an amount equivalent to a maximum of 20% of the manufacturing costs to ensure there is no material impact on its finances this year while continuing efforts to provide the vaccine at no profit during the pandemic,” the statement added.
Multiple deals with multiple companies and governments for supply and manufacturing for more than 3 billion doses of the Covid-19 vaccine globally have been signed previously by AstraZeneca.
It has been reported that the drug maker is getting closer to disclosing the early results of its final phase of clinical trials for its Covid-19 vaccine candidate. The vaccine is being developed by scientists at the University of Oxford and it was licensed in April to AstraZeneca. It is expected to be one of the first vaccines against Cvoid-19 from a big pharma company for securing regulatory approval for usage.
Multiple supply chains have been created by the drug maker in order to make sure that it is possible to get timely access to its vaccine in a broad and equitable manner for high as well as low income countries, it had said previously.
There has been a wide debate about the pricing and supply of the experimental Covid-19 vaccines as billions of dollars into funding have been pumped by the richer countries while protection from future liability claims have also been granted by regulators of different countries to AstraZeneca.
In a separate announcement on Friday, AstraZeneca announced resumption of its phase three trials in the United States for its Covid-19 vaccine candidate after being granted permission by regulators there.
(Source:www.ft.com)
“In addition to the manufacturing costs, the company is incurring costs in excess of $1 billion globally that include clinical development, regulatory, distribution, pharmacovigilance and other expenses”, an AstraZeneca spokesman said in a statement.
“To cover these additional expenses, the company will add an amount equivalent to a maximum of 20% of the manufacturing costs to ensure there is no material impact on its finances this year while continuing efforts to provide the vaccine at no profit during the pandemic,” the statement added.
Multiple deals with multiple companies and governments for supply and manufacturing for more than 3 billion doses of the Covid-19 vaccine globally have been signed previously by AstraZeneca.
It has been reported that the drug maker is getting closer to disclosing the early results of its final phase of clinical trials for its Covid-19 vaccine candidate. The vaccine is being developed by scientists at the University of Oxford and it was licensed in April to AstraZeneca. It is expected to be one of the first vaccines against Cvoid-19 from a big pharma company for securing regulatory approval for usage.
Multiple supply chains have been created by the drug maker in order to make sure that it is possible to get timely access to its vaccine in a broad and equitable manner for high as well as low income countries, it had said previously.
There has been a wide debate about the pricing and supply of the experimental Covid-19 vaccines as billions of dollars into funding have been pumped by the richer countries while protection from future liability claims have also been granted by regulators of different countries to AstraZeneca.
In a separate announcement on Friday, AstraZeneca announced resumption of its phase three trials in the United States for its Covid-19 vaccine candidate after being granted permission by regulators there.
(Source:www.ft.com)
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