WuXi Vaccines Signed Long-Term Vaccine Manufacturing Contract with a Global Vaccine Leader
SHANGHAI, Feb. 18, 2020 /PRNewswire/ -- WuXi Vaccines, a new vaccine Contract Development and Manufacturing Organization (CDMO) established between WuXi Biologics (stock code: 2269.HK) and Shanghai Hile Bio-technology (stock code: 603718.SH) announced that it has entered into a strategic partnership with a global vaccine leader and signed a 20-year vaccine manufacturing contract valued approximately $3 billion USD, pursuant to which WuXi Vaccines will build a dedicated facility and supply a commercial vaccine products for the global market. The business model of WuXi Vaccines is to build world-class integrated platforms and CDMO model to enable global companies to develop and manufacture vaccines.
Per the contract signed, WuXi Vaccines will build an integrated vaccine manufacturing facility including drug substance manufacturing (DS), drug product manufacturing (DP), Manufacture Science and Technology Labs (MS&T) as well as Quality Control labs (QC). The facility will be dedicated to manufacture one of its partner's vaccine products for the global market. The new facility is expected to be operational in 2022.
In Nov 2019, WuXi Vaccines announced 240 million USD investment to build the new vaccine manufacturing facility in Ireland. The facility is located within the WuXi Biologics Campus adjacent to the "Factory of the Future" biologics drug substance manufacturing facility which is scheduled for commercial manufacturing in 2021.
"This is a historic moment for WuXi Vaccines as well as for the global vaccine industry. Due to process complexity, extensive analytic testing and rigorous regulatory standards, vaccines are difficult to manufacture and process and quality control are extremely critical for the quality of the product. This partnership with a global vaccine leader to exclusively manufacture a vaccine for the global market, first of its kind in the industry, is a further testimony to the technical strengths and premier quality demonstrated by WuXi Vaccines," commented Dr. Chris Chen, Chairman of WuXi Vaccines, "WuXi Vaccines will provide our global partners with a robust and premier-quality supply chain network to produce high quality vaccines to protect human being globally."
About WuXi Vaccines
WuXi Vaccines is a joint venture company established between WuXi Biologics (stock code: 2269.HK) and Shanghai Hile Bio-technology (stock code: 603718.SH). The business model of WuXi Vaccines is to build world-class integrated platforms and Contract Development and Manufacturing Organization (CDMO) model to enable global companies to develop and manufacture vaccines.
About WuXi Biologics
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SOURCE WuXi Biologics
Company Codes: HongKong:2269, OTC-PINK:WXXWY
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