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TEMPUS

Covid vaccine cannot be the whole story at Oxford Biomedica

The Times

As the leading Covid-19 vaccine manufacturer for AstraZeneca, Oxford Biomedica was able to persuade the prime minister to open its newest facility in January. At the ceremony Boris Johnson decreed that it should be running 24/7 as soon as possible and was said to have sought reassurance afterwards that it was squeezing out every available drop. No factory owner could ask for more.

The two companies signed an eighteen-month supply deal in September under a three-year master supply and development agreement for the large-scale manufacture of the Oxford-AstraZeneca vaccine. Oxford Biomedica was paid £15 million as a capacity reservation fee and another £35 million is expected by the end of the year.

So far, so good, but shareholders must bear in mind that Oxford