WuXi Biologics' Irish Vaccine Plant Lands USD3 Billion Supply Deal
Tang Shihua
DATE:  Feb 19 2020
/ SOURCE:  yicai
WuXi Biologics' Irish Vaccine Plant Lands USD3 Billion Supply Deal WuXi Biologics' Irish Vaccine Plant Lands USD3 Billion Supply Deal

(Yicai Global) Feb. 19 -- An Irish vaccine plant being built by Chinese biopharmaceuticals firm WuXi Biologics has penned a 20-year supply deal worth USD3 billion with a global vaccine leader.

WuXi Vaccines Ireland, a joint developer of manufacturer of vaccines formed with Hile Bio-Technology, penned the contract, Hong Kong-based WuXi Biologics said in statement yesterday, without disclosing the buyer's name.

Shares in Hile [SHA:603718] were up by 9.7 percent at CNY18.23 (USD2.60) when mainland markets broke for lunch at 11.30 a.m., while those of WuXi Biologics [HKG:2269] were down 1.4 percent at HKD117.30 (USD15.10) at midday, when the Hong Kong Stock Exchange begins its lunch break.

Vaccine-related contract development and manufacturing is one of WuXi Biologics' new growth points, said Chief Executive Chris Chen. The new plant will spur growth in the firm's vaccine business and across the entire company, he added.

The factory will produce various innovative vaccines for the new client, which will deliver them to markets around the globe, per their agreement. The plant is scheduled to begin operations in 2022 and will cost around USD240 million to build, WuXi Vaccines said in November.

Editor: James Boynton

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Keywords:   Vaccine,WuXi Biologics