Covid vaccine wind-down hits revenue and profits at Oxford Biomedica

Published by

Sam Pither

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.

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.”

Sam Pither

Sam is the Regional Editor of Biz News, responsible for both Hampshire and Dorset. A new recruit to journalism, Sam started writing for the Business Magazine as a freelancer in May of 2022 after completing his degree in English at University College London. His passion for local businesses and ability to tell a story soon caught the attention of the publication’s management team and have led to his meteoric rise. Sam, who lives in central Reading, takes a particular interest in technology, gaming and food and drink, having been a chef before starting his degree.