Covid vaccine wind-down hits revenue and profits at Oxford Biomedica
Gene and cell therapy Oxford BioMedica has reported a swing to interim loss and a decline in interim revenue, due to a decrease in Covid vaccine batches manufactured for AstraZeneca.
For the six months to June 30 the company reported pretax loss of £27.4 million from a profit of £19.2 million a year ago.
Revenue declined by 21 per cent to £64 million from £81.4 million a year earlier due to a decrease in vaccine batches manufactured for AstraZeneca PLC.
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But the company said it had achieved double-digit growth in the core business excluding Covid-19 vaccine manufacturing.
“We have made significant strategic and operational progress towards our goal of becoming a global viral vector leader,” said CEO Roch Doliveux.
“In the first half of 2022 we achieved double-digit revenue growth in our core business and since the start of the year have signed numerous new or expanded partnership deals, including a new AAV deal, resulting in an over 70 per cent increase in the number of customers with whom we work.”
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