Murtaza Khorakiwala, Managing Director and Global CEO of Wockhardt, announced during an analyst call that the company has identified two vaccines and intends to produce them within the next 12 months, pending the successful completion of exhibit batches and obtaining regulatory approval. Elaborating further on the partnership, the speaker noted that Wockhardt had already inked a deal with the Serum Institute of India, resulting in the company receiving £10 million as compensation for reserving its manufacturing facility to produce 150 million doses of the vaccine annually for 15 years.
The agreement includes a joint venture component focusing on contract manufacturing and will also be responsible for developing manufacturing and marketing products based on biotechnology. Under the terms of the agreement, Wockhardt will have a 51% stake in the joint venture, while Serum will have a 49% stake. The speaker went into further detail about the company's antibiotic product pipeline, highlighting that five products were currently in the process of being developed.
According to Dr. Khorakiwala, "The global phase three trial of the product, which began in August 2022, is making considerable progress, and we are anticipating the trial to reach completion in the next 15 to 18 months. We are aiming to obtain approval from the US, Europe, China, and India and launch the product by 2025."
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