MADRID (Reuters) -Spanish pharmaceuticals company Rovi will make active ingredients for Moderna’s COVID-19 vaccine, extending an existing agreement to bottle the vaccine using ingredients transported from Switzerland.
Under the deal announced on Monday - which boosted Rovi shares more than 4% to a near-record high - Madrid-based Rovi will have the capacity to supply active agents for up to 100 million vaccine doses a year from its plant in the southern city of Granada via a new production line.
The deal will, for at least a portion of the Moderna vaccine, spare the challenges of a long, cross-Europe journey in which ingredients had to be shipped hundreds of kilometres for final bottling from a plant owned by drug company Lonza.
Lonza’s Swiss output had so far been shipped either to Rovi for “fill and finish” or to a facility belonging to Swedish-based contract drug maker Recipharm in France. The finished vaccines will be bound for Europe, Canada, South Korea, Japan and elsewhere outside the United States.
“Our proven experience and capacities as a contract manufacturer of injectables with high technological value has enabled us to strengthen our present agreement with Moderna and this will help to reinforce our manufacturing area, probably providing us with a significant growth opportunity in this area,” Rovi CEO Juan Lopez-Belmonte Encina said in a statement.
The company did not disclose the size of its investment in the new production line. Lonza has said that each of its recently built production lines cost around 70 million Swiss francs ($76 million), with a staff of about 60 to 70 employees dedicated to each line.
Rovi shares have jumped about 26% so far this year, according to Refinitiv data. The stock was up 3.8% at 47.9 euros by 1048 GMT, not far from a record 48.4 euros set late last month.
($1 = 0.9238 Swiss francs)
Reporting by Emma Pinedo and Inti Landauro in Madrid, John Miller in Zurich, and Aida Pelaez-Fernandez in Gdansk Editing by Ingrid Melander and David Holmes
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April 12, 2021 at 02:48PM
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Spain's Rovi to make ingredients for Moderna's COVID-19 vaccine - Reuters
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