Aspen Pharmacare’s share price rallied as high as 4% to R109.90 on Monday on the news that it has entered into a preliminary agreement with Johnson & Johnson to manufacture its Covid-19 vaccine candidate.
The mooted deal announced in a trading update on Monday morning will see Aspen work with the Johnson & Johnson owned Janssen Pharmaceuticals and Janssen Pharmaceutica NV to make their Covid-19 vaccine candidate.
The vaccine candidate is currently undergoing clinical trials, and Aspen says it will perform formulation, filling and secondary packaging of the vaccine for supply to Johnson & Johnson.
Aspen says it’s not a done deal yet but if it does go ahead, manufacturing will take place at its facility in Port Elizabeth which has the capacity to produce more than 300 million doses per annum.
For more on this story visit www.moneyweb.co.za
