Oxford Biomedica lifts outlook as AstraZeneca ramps up vaccine output

By Reuters

<p><body> <p>(Reuters) -Oxford Biomedica on Tuesday doubled the revenue expectation from its <span class="caps">COVID</span>-19 vaccine supply deal with AstraZeneca after the drugmaker commissioned more batches from the company in the second half of 2021.</p> <p>Shares of the cell therapy firm, which has an agreement to mass-produce AstraZeneca’s <span class="caps">COVID</span>-19 vaccine, rose 6.2% in early trading. </p> <p>Oxford Biomedica raised its forecast for cumulative revenues from AstraZeneca by end-2021 to more than 100 million pounds ($141.82 million) from more than 50 million pounds earlier. The company did not provide any other details on its deal. </p> <p>Liberum analysts said the increased supply deal was a “huge endorsement” of Oxford Biomedica’s capabilities, and that a further extension from AstraZeneca feels “increasingly likely”.</p> <p>AstraZeneca has had a bruising start to the year as it struggled with vaccine production and faced a legal battle after cutting deliveries to Europe.</p> <p>Oxford Biomedica was spun off in 1995 from the University of Oxford, which developed the <span class="caps">COVID</span>-19 vaccine before licensing it to AstraZeneca in April 2020.</p> <p>The company, which signed the 18-month supply deal with AstraZeneca in September 2020, did not immediately respond to a Reuters request for a comment. </p> <p>($1 = 0.7051 pounds)</p> <p> (Reporting by Vishwadha Chander in Bengaluru; Editing by Devika Syamnath)</p> </body></p>