Wockhardt stock rallies ~4% on collaboration with Serum Institute for manufacturing multiple vaccines in UK

21 Mar 2022 , 09:16 AM

Wockhardt, the global biotechnology major announced on March 20, 2022 a collaboration with Serum Life Sciences UK Ltd, a subsidiary of the Serum Institute of India, one of the world’s largest vaccine manufacturers to deliver a global vaccine programme.

This collaboration between a subsidiary of Wockhardt and Serum Life Sciences UK will help create considerable number of employment opportunities along with creation of new sterile fill and finish facility in Wrexham, North Wales (‘New Facility’). A profit sharing arrangement has been made between the two parties for this New Facility that will deliver an additional 150 million vaccine doses of multiple vaccines.

The Founder Chairman of Wockhardt Dr. Habil Khorakiwala said, “This collaboration between Serum Life Sciences and Wockhardt UK is testament to the excellence and innovation that both parties bring to the global vaccine market”.

Natasha Poonawalla, Chairperson, Serum Life Sciences, added “We are delighted to have formed a strategic partnership between Wockhardt and Serum Life Sciences. The collaboration will be instrumental in building long-term capacity in the UK. With this, we seek to further bolster supply resilience and support the global rollout of vaccines.”

Dr Murtaza Khorakiwala, Managing Director and Global CEO of Wockhardt comments: “This deal today signifies the role that we will now step up to play in the global supply of multiple vaccines protecting citizens against infectious diseases — which may include those used to immunise against COVID-19.”

Wockhardt UK has manufactured a COVID-19 vaccine in collaboration with UK Government and AstraZeneca. Its collaboration with Serum Life Sciences is an addition to the earlier arrangement.

On Monday early morning trade, Wockhardt was trading at Rs303.40 per share higher by 3.82% on Sensex opening bell.