AstraZeneca Recruits IDT Biologika As Manufacturing Partner For COVID-19 Vaccine

AstraZeneca Plc (NASDAQ: AZN) enlists Germany’s IDT Biologika as a contract manufacturer of its COVID-19 vaccine.
Both the companies are exploring options to accelerate the output of the finished COVID-19 vaccine in the second quarter of 2021 to help support Europe’s immediate vaccination needs during the pandemic following the European Medicines Agency approval on January 29.
AstraZeneca and IDT Biologika have also planned a joint investment to build large additional drug substance capacity for the future. While the details of the agreement are yet to be finalized, both companies plan to invest in capacity expansion at IDT Biologika’s production site in Dessau, Germany, to build up to five 2,000-litre bioreactors. The new assets are estimated to be operational by the end of 2022.
Price Action: AZN shares are down 0.44% at $50.19 on the last check Wednesday.