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Oxford Biomedica ups earnings guidance as AstraZeneca increases vaccine order
StockMarketWire.com
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Gene and cell therapy group Oxford Biomedica upgraded its annual earnings guidance after AstraZeneca increased the size of an order related to Covid-19 vaccines.
Oxford Biomedica had in September signed an 18-month supply agreement with AstraZeneca for large-scale commercial manufacture of the adenovirus vector-based Covid-19 vaccine, AZD1222.
On Tuesday, AstraZeneca committed to an increase in the number of batches required from Oxford Biomedica in the second half of 2021.
The company consequently raised its guidance for expected cumulative revenues from AstraZeneca by the end of 2021 to in excess of £100 million, up from in excess of £50 million to in excess of £100 million.
As a result, Oxford Biomedica said it expected 'significant growth' in annual operating earnings for the year through December.
Story provided by StockMarketWire.com
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