Swine flu jab gives GlaxoSmithKline £1bn boost
Oct 29 2009 by Iain Laing, The Journal
SOARING global demand for swine flu vaccinations is expected to give drug giant GlaxoSmithKline a £1bn sales boost in the final three months of the year.
Glaxo, which has around 1,000 staff at its plant in Barnard Castle in County Durham which makes the drug, said it had shipped 25 million doses of its swine flu vaccine so far and was “in good shape“ to meet orders for 440 million worldwide.
The firm added it had already taken further Government orders since it last updated the stock market and has also pledged to donate 50 million doses to the World Health Organisation to help in the fight against the flu pandemic.
Glaxo reported a 3% rise in third-quarter sales £6.76bn, but the results do not yet include figures for its Pandemrix vaccination for the H1N1 virus.
It confirmed in July the vaccination would cost developed countries around £6.34 for each dose, but has declined to reveal production costs amid speculation that a Pandemrix dose costs as little as £1 to make.
The group received approval for the vaccine in Europe last month and has been “ramping up“ production over the past three weeks to meet surging demand.
It has yet to receive approval in the US, but said it was a minor player in the American vaccination programme, with orders expected of around 7.5 million doses.
