Glaxo warning as it agrees deal for 60m vaccine doses
CRUCIAL vaccination programmes have ground to a halt during lockdowns around the world, drug maker GlaxoSmithKline warned as it struck a deal with ministers for 60m doses of its potential Covid jab.
Inoculation rates for other diseases have slumped as countries focus on fighting coronavirus, Glaxo said, adding that its financial performance will suffer this year if take-up does not recover by the third quarter as expected.
The FTSE 100 company also signed an agreement with the Government for doses of a coronavirus vaccine it is developing with French rival Sanofi.
The vaccine will be provided to the UK if it proves effective when human trials begin in September. Britain has been racing to buy up potential Covid jabs so they can be used as soon as testing is completed. The UK has now secured 250m doses of four different types of vaccine, with hopes growing that the first versions will be cleared for use in a matter of months.
Glaxo said: “There remain notable risks to business performance. The outcome is dependent on the timing of a recovery in vaccination rates, particularly in the US. If we were to experience a delay in this recovery we could see a significant impact in 2020.”
However boss Emma Walmsley noted that vaccinations for children are now back to pre-Covid levels.