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    GSK   GB0009252882

GLAXOSMITHKLINE PLC

(GSK)
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CureVac may let contractors make rival vaccines if own shot fails -CEO

06/17/2021 | 03:55pm EDT

FRANKFURT, June 17 (Reuters) - German biotech firm CureVac could allow its network of manufacturing partners to be repurposed to make vaccines developed by other companies should its own experimental shot fail, its chief executive told Reuters on Thursday.

The German company saw billions of euros wiped from its market value on Thursday after its COVID-19 vaccine proved only 47% effective in an initial trial read-out, denting investor confidence in its ability to take on rival shots.

"At the moment we are of course fully committed to obtain authorisation, the data will show," CureVac CEO Franz-Werner Haas told Reuters TV, referring to a final read-out that is still pending.

"If this capacity is not to be used - we are working with a whole network of outstanding partners - ... these partners would of course be free to make other products if we don't have a product," he said.

CureVac's manufacturing partners include Celonic Group of Switzerland, Novartis, Bayer, Fareva, Wacker and Rentschler Biopharma SE.

However, Haas stressed that CureVac's efforts to develop a new generation of vaccines, a venture where it collaborates with GlaxoSmithKline, would take precedence and that he would continue to draw on the external contractors for that drive

Drug supply chain expert Prashant Yadav said that if CureVac's partners were to make different mRNA vaccine, like Pfizer-BioNtech's or Moderna's, it would take at least six to eight weeks to retool their facilities.

Yadav suggested that the Pfizer-BioNTech vaccine might be a better candidate, given that BioNTech is in Germany and many of CureVac's manufacturing partners are in Germany and Austria.

(Reporting by Tilman Blasshofer, Ludwig Burger and Patricia Weiss; Editing by Pravin Char and Richard Chang)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BAYER AG -0.63% 50.21 Delayed Quote.4.89%
GLAXOSMITHKLINE PLC 0.14% 1429.6 Delayed Quote.6.38%
MODERNA, INC. -1.98% 346.61 Delayed Quote.231.78%
NOVARTIS AG 0.14% 83.89 Delayed Quote.0.14%
WACKER CHEMIE AG 0.12% 124.85 Delayed Quote.6.81%
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Financials
Sales 2021 33 296 M 46 322 M 46 322 M
Net income 2021 3 719 M 5 174 M 5 174 M
Net Debt 2021 20 790 M 28 923 M 28 923 M
P/E ratio 2021 19,3x
Yield 2021 5,60%
Capitalization 71 450 M 99 309 M 99 401 M
EV / Sales 2021 2,77x
EV / Sales 2022 2,61x
Nbr of Employees 94 066
Free-Float 92,2%
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Mean consensus OUTPERFORM
Number of Analysts 27
Last Close Price 1 427,60 GBX
Average target price 1 533,92 GBX
Spread / Average Target 7,45%
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Managers and Directors
Emma N. Walmsley Chief Executive Officer & Executive Director
Iain James Mackay Chief Financial Officer & Executive Director
Jonathan Richard Symonds Non-Executive Chairman
Karenann K. Terrell Chief Digital & Technology Officer
Hal V. Barron Executive Director & Chief Scientific Officer
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