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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  AstraZeneca PLC    AZN   GB0009895292

ASTRAZENECA PLC

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AstraZeneca : Australia to spend $726 mln underwriting country's biggest vaccine plant

11/15/2020 | 04:15pm EST

SYDNEY, Nov 16 (Reuters) - Australia will spend A$1 billion ($726.3 million) underwriting construction of a vaccine manufacturing plant under a deal with a unit of biomedical giant CSL Ltd, guaranteeing supply of flu shots and antivenins, the federal government said on Monday.

Under the deal, CSL vaccine subsidiary Seqirus would spend A$800 million building the facility in the city of Melbourne, while the government would guarantee purchase of its vaccines for 10 years, local media reported.

The purchase agreement would begin when the new plant opens in 2026, in time for the expiry of a current supply agreement with CSL which runs until about 2025, media added.

"We're currently well placed, but we want to be even better placed because who knows what will come," Health Minister Greg Hunt told the Australian Broadcasting Corp.

"We'll have that national vaccine manufacturing capability as well as the long-term contracts for flu and for anti-venoms."

Hunt added the new CSL plant would be the largest vaccine manufacturing plant in the southern hemisphere.

The Australian government has already struck agreements with CSL to supply two potential vaccines for the new coronavirus which are being trialled by Britain's AstraZeneca Plc and Australia's University of Queensland.

($1 = 1.3768 Australian dollars) (Reporting by Byron Kaye)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ASTRAZENECA PLC 1.00% 7738 Delayed Quote.4.62%
CSL LIMITED 0.09% 267.5 End-of-day quote.-5.54%
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Financials (USD)
Sales 2020 26 400 M - -
Net income 2020 2 970 M - -
Net Debt 2020 13 217 M - -
P/E ratio 2020 40,8x
Yield 2020 2,71%
Capitalization 137 B 137 B -
EV / Sales 2020 5,67x
EV / Sales 2021 4,92x
Nbr of Employees 70 600
Free-Float 95,7%
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Mean consensus BUY
Number of Analysts 25
Average target price 126,16 $
Last Close Price 104,06 $
Spread / Highest target 50,0%
Spread / Average Target 21,2%
Spread / Lowest Target -19,2%
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Managers and Directors
NameTitle
Pascal Soriot Chief Executive Officer & Executive Director
Leif Valdemar Johansson Non-Executive Chairman
Pam P. Cheng Executive VP-Operations & Information Technology
Marc Pierre Jean Dunoyer Chief Financial Officer & Executive Director
Menelas N. Pangalos EVP-Biopharmaceuticals Research & Development
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