AGL 38.75 Increased By ▲ 0.05 (0.13%)
AIRLINK 137.10 Decreased By ▼ -0.78 (-0.57%)
BOP 5.37 Decreased By ▼ -0.06 (-1.1%)
CNERGY 3.87 Increased By ▲ 0.09 (2.38%)
DCL 8.09 Increased By ▲ 0.35 (4.52%)
DFML 45.74 Increased By ▲ 0.12 (0.26%)
DGKC 83.30 Increased By ▲ 2.80 (3.48%)
FCCL 30.27 Increased By ▲ 0.72 (2.44%)
FFBL 57.60 Increased By ▲ 1.80 (3.23%)
FFL 9.14 Increased By ▲ 0.05 (0.55%)
HUBC 106.85 Increased By ▲ 1.25 (1.18%)
HUMNL 14.30 Increased By ▲ 0.25 (1.78%)
KEL 4.68 Increased By ▲ 0.38 (8.84%)
KOSM 7.98 Decreased By ▼ -0.25 (-3.04%)
MLCF 38.93 Increased By ▲ 0.95 (2.5%)
NBP 67.60 Decreased By ▼ -1.63 (-2.35%)
OGDC 168.99 Increased By ▲ 1.99 (1.19%)
PAEL 25.38 Increased By ▲ 0.18 (0.71%)
PIBTL 5.94 Decreased By ▼ -0.84 (-12.39%)
PPL 131.00 Increased By ▲ 0.65 (0.5%)
PRL 23.76 No Change ▼ 0.00 (0%)
PTC 15.75 Increased By ▲ 0.05 (0.32%)
SEARL 64.75 Increased By ▲ 3.27 (5.32%)
TELE 7.40 Increased By ▲ 0.36 (5.11%)
TOMCL 36.09 Decreased By ▼ -0.01 (-0.03%)
TPLP 7.86 Increased By ▲ 0.05 (0.64%)
TREET 14.93 Decreased By ▼ -0.22 (-1.45%)
TRG 45.25 Increased By ▲ 0.36 (0.8%)
UNITY 25.83 Increased By ▲ 0.32 (1.25%)
WTL 1.29 Increased By ▲ 0.02 (1.57%)
BR100 9,347 Increased By 123.7 (1.34%)
BR30 28,113 Increased By 346.6 (1.25%)
KSE100 87,195 Increased By 728 (0.84%)
KSE30 27,397 Increased By 234 (0.86%)
Business & Finance

Swiss drugmaker Novartis to help make Pfizer-Biontech COVID-19 vaccine

  • Three vaccines from Western companies Pfizer-Biontech, AstraZeneca and Moderna have been approved by regulators.
  • Novartis has been mobilizing on multiple fronts to support the global pandemic response.
Published January 29, 2021

ZURICH: Swiss drugmaker Novartis has signed an initial agreement to provide manufacturing capacity for Pfizer and Biontech's COVID-19 vaccine, a move aimed at helping boost production as supplies fall shy of demand.

Subject to reaching a final agreement, Novartis plans to commence production in the second quarter of 2021, the Basel-based company said on Friday, adding it would use manufacturing facilities at its site in Stein, Switzerland, near the Rhine River on the German border.

Three vaccines from Western companies Pfizer-Biontech, AstraZeneca and Moderna have been approved by regulators, but limited production and delayed deliveries have hampered efforts to quickly vaccinate people most at risk for COVID-19.

Novartis's announcement that it was joining the push to remedy the shortfall follows a move by Sanofi this week to work with Biontech to supply 125 million doses of its mRNA vaccine to the European Union.

"Novartis has been mobilizing on multiple fronts to support the global pandemic response," said Steffen Lang, head of Novartis Technical Operations.

Novartis, which did not give specifics on how much drug substance it would produce for Pfizer-Biontech if the deal goes through, added it is in "advanced discussions" with additional companies to take on production of mRNA, therapeutic protein and other raw materials for vaccines and therapeutics.

Comments

Comments are closed.