AZN - AstraZeneca signs new three-year deal with Oxford Biomedica for COVID shot

• U.K.-based biotech Oxford Biomedica ( OTCPK:OXBDF ) announced on Friday that the company entered into a new three-year partnership with AstraZeneca ( AZN ) to manufacture the Anglo Dutch pharma giant’s COVID-19 vaccine.
• The deal marks an expansion of the original agreement the companies signed in Sep. 2020 for the vector-based shot.
• Per the terms of the new Master Services & Development Agreement, Oxford Biomedica’s ( OTCPK:OXBDF ) 84,000 sq. ft manufacturing facility, Oxbox, will be made available for AstraZeneca ( AZN ) to manufacture vaccines as needed beyond 2022.
• According to the original deal and including the revenue for vaccine batches already manufactured during 1H 2022, Oxford Biomedica’s ( OTCPK:OXBDF ) expects to recognize £30M revenue from AstraZeneca ( AZN ) in the current financial year.
• AstraZeneca’s ( AZN ) COVID-19 vaccine generated ~$1.2B sales in 1Q 2022.

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