Commercializing COVID-19 vaccine facility by April-May 2021: Aurobindo Pharma
Aurobindo Pharma anticipates commercializing its vaccine manufacturing center in Hyderabad by April-May 2021.
The Hyderabad-based firm is funding about Rs 275 crores on the center, which would certainly be used to manufacture COVID-19 vaccines.
Aurobindo Pharma intends to team up with various other firms that may succeed in developing the medicine sooner than it – In addition to developing its own COVID-19 vaccine and individually collaborating with CSIR for the development of a vaccine.
N Govindarajan, Managing Director, Aurobindo Pharma, stated that they have actually taken a 3-pronged method. One in regards to their own vaccine, and another one is a collaboration with CSIR Laboratories. And the third one is that the firm is exploring collaboration with the prospective partners that will come up with the product quicker than its product or CSIR’s product.
He further stated that their product has lightly dawdled. Yet CSIR’s products are proceeding well, and they are still targeting to complete their production center by March-April and begin the qualification by April. They can begin commercializing it by April-May.
He stated that their center would certainly have the potential to manufacture around 450 million vaccine dosages
.Their aim was that they would be able to utilize a facility along with their partner, whoever is preparing earlier than whatever initiatives they are investing in. Due to this, they have proceeded and created the facility.
The firm is likely to undertake a multi-pronged technique when it comes to collaborating with partners progressing quicker.
They will be manufacturing, taking the mass from them, and over a period, they can also do the mass and then do the completed dose, and they will be taking specific markets for distribution.
The company is developing the COVID-19 vaccine through its wholly-owned US subsidiary Auro Vaccines.
The COVID-19 vaccine prospect is based upon the firm’s exclusive replication-competent, attenuated, recombinant vesicular stomatitis (VSV, VesiculoVax) vaccine delivery platform.
He stated that on the capital allocation front, they have been discussing this in the past also that they will not be looking at any large ticket acquisition for the following few years. Their present year CapEx must be around 180-200 million Dollars.
The previous month, the firm signed an agreement to divest Natrol (which Aurobindo Pharma acquired in 2014), a wholly-owned unit of its US-based subsidiary, to private equity company New Mountain Mountain for 550 million Dollars.
Commercializing COVID-19 vaccine facility by April-May 2021: Aurobindo Pharma
