Meet with analysts on the 14th, “multiple companies offer”
“The contract is not the problem”
Green cross(421,000 +3.31%)Has received CMO proposals from a number of Corona 19 vaccine developers, and it has been confirmed that the production schedule (schedule) is being fine-tuned. The reason for the delay in the announcement of the CMO contract is that the plan is being optimized to produce as much as possible at the production facility in the Ochang plant in Chungbuk.
It was confirmed on the 15th that Green Cross met with brokerage analysts the day before and delivered the same information. Green Cross said, “We have received CMO requests from a number of COVID-19 vaccine manufacturers. It is not a problem with which company we are contracting with, but we are working on a schedule to see how efficiently we can digest as much as possible.”
It also predicted that vaccine production will not end this year, but will continue until 2023-2024. This is in a similar vein to that Stefane Bancell, CEO of Modena, the US-based Corona 19 vaccine maker, warned that Corona 19 may not disappear forever.
It is reported that the contract currently under discussion includes the right (optional) to receive more profits than the contracted amount this year if production continues until next year.
In October of last year, Green Cross won an order of 500 million doses from the Infectious Disease Response and Innovation Alliance (CEPI), which is supported by the Bill & Melinda Gates Foundation. In the future, it was decided to sign separate contracts with CEPI affiliated companies. CEPI is an international private organization launched in 2017 to respond to infectious diseases. Global pharmaceutical companies are supporting the development of COVID-19 vaccine. Modena is also included here.
Green Cross will be in charge of the finalization process for 500 million doses of vaccines and treatments from March to May next year. The finished process refers to the process of filling the produced medicine into a vial (glass container for injection) or a syringe.
In a meeting with analysts the day before, Green Cross also emphasized that there are very few companies that perform the finalization process in the global market. The US Catalent, which is in charge of the completion process of Modena’s Corona 19 vaccine, also explained that it is difficult to receive additional orders due to the full production facilities.
It is reported that some vaccine companies have requested not only the final product process but also the production of undiluted solutions from Green Cross.
Green Cross passed strict selection criteria in the process of signing a contract with CEPI. An industry insider said, “There are not many companies in the global market with the latest facilities such as the Ochang plant,” and “the love call continues because it is a company recognized by CEPI.”
Reporter Juhyun Lee [email protected]
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