Rovi will also produce Moderna’s COVID-19 vaccine in Andalusia
Rovi will start producing Moderna’s COVID-19 vaccine in Andalusia. This investment consists of the installation of a new line to support the production phases of the active ingredient of the mRNA vaccine. Rovi posted a net profit of $72.7 million (€61.1 million) in 2020, 55% higher than in 2019, when it earned $46.7 million (€39.3 million).
Rovi expands its collaboration with Moderna. The Spanish pharmaceutical company announced on Monday, April 12th, that it is strengthening its collaboration for the manufacture of the active ingredient of Moderna’s Covid-19 vaccine. To this end, new industrial investment will be made at the Spanish group’s facilities in Granada.
This investment consists of the installation of a new line to support the production phases of the active ingredient of the mRNA vaccine, which are previous and additional to the formulation, filling, and finishing of the vaccine, as the company has informed the Spanish Securities and Exchange Commission (Cnmv). This line would have a production capacity equivalent to more than 100 million doses per year and is expected to start supplying markets outside the United States in the third quarter of 2021.
With this action, Rovi expands the activities it carries out in the manufacturing process of the Moderna vaccine: it will participate in the manufacture of the active ingredient as well as in its formulation, bottling and final packaging, prior to its distribution for administration to patients.
Read more about the agreement between Rovi and Moderna and find the most important business news of the day with our companion app, Born2Invest.
Rovi will carry out a new industrial investment in the facilities that the Spanish group has in Granada
“We are very happy about the collaboration with Moderna, whose vaccine against Covid-19 is one of the best positioned in the race to solve this health crisis; We are very excited that Rovi will go a step further and participate in the manufacture of the vaccine’s active ingredient, as further integration in the production process would allow us to support Moderna in its large-scale supply more broadly,” said Rovi’s CEO, Juan López-Belmonte.
Rovi is a pan-European specialty pharmaceutical company engaged in the research, development, in-licensing, manufacturing and commercialization of small molecules and specialty biologics. The company has subsidiaries in Portugal, Germany, United Kingdom, Italy, France and Poland, and has a diversified portfolio of more than forty marketed products, including its reference product, Bemiparin, which is already marketed in 58 countries around the world.
Rovi posted a net profit of $72.7 million (€61.1 million) in 2020, 55% higher than in 2019, when it earned $46.7 million (€39.3 million). Rovi’s operating income increased by 10% in 2020 compared to the previous year, to $500 million (€420 million).
These results are due, according to the group, to the strength of the third-party manufacturing business, which grew by 39% in sales following the agreement for Moderna’s Covid-19 vaccine, as well as the specialty pharmaceuticals business, whose turnover increased by 4%.
(Featured image by geralt via Pixabay)
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First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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