[Vaccine-manufacturing] Vaccine makers turned down Teva’s offer to help produce jabs, CEO says
Ellen 't Hoen
ellenthoen at medicineslawandpolicy.net
Thu Apr 29 05:24:42 PDT 2021
In FT yesterday:
Vaccine makers turned down Teva’s offer to help produce jabs, CEO says
The chief executive of Teva Pharmaceuticals said the major coronavirus
vaccine makers declined his company’s offer to help manufacture the jab,
despite Teva having production capacity ready to use.
“We’ve made it clear that we were willing to help but it has not resulted
in any agreements,” Kåre Schultz told the Financial Times about
conversations with the vaccine makers whose jabs have been authorised for
use in the US and Europe.
He said the vaccine companies “have chosen either to go with some of the
large established contract manufacturing organisations or with pharma
companies with whom they have partnered before.”
Teva has production facilities that can fill and finish vaccine vials, as
well as packaging, but Schultz said the major vaccine makers had “found
capacity elsewhere that could fulfil the needs they had.” He said the
company remained in discussions with other, smaller vaccine manufacturers
but was “not too optimistic” that any deals would be agreed.
His comments came as India continues to battle a catastrophic wave of the
virus that has overwhelmed the country’s health systems. Vaccine companies
have objected to proposals to waive patents, saying that they are doing
everything they can to increase production.
Teva posted its first-quarter earnings on Wednesday, reporting adjusted
earnings per share of 63 cents on revenues of $4bn. The company’s share
price slipped 2.3 per cent.
*Ellen 't Hoen, LLM PhD*
Medicines Law & Policy
*e-mail: ellenthoen at medicineslawandpolicy.net
<ellenthoen at medicineslawandpolicy.net>*
*phone NL: +31 (0) 637530700*
More information about the Vaccine-manufacturing