CureVac Shares Fall Premarket on Termination of Vaccine Contracts With Wacker Chemie, Celonic -- 2nd Update
14 Setembro 2021 - 10:29AM
Dow Jones News
By Olivia Bugault
Shares in CureVac NV fell Tuesday in premarket trading after
terminating its mRNA coronavirus vaccine manufacturing contracts
with German chemical company Wacker Chemie AG and biotech company
Celonic, noting that it will need less European production capacity
than previously anticipated.
German biotech company CureVac trades down 7.6% premarket at its
main listing in the U.S., while German-listed shares fall 8.6%.
Shares in Wacker Chemie are largely flat after falling following
the announcement.
"The decision was made in response to the reduced short-term
peak demand for vaccines following the first wave of the pandemic
vaccination efforts and corresponding changes in the demand of its
first-generation COVID-19 vaccine candidate, CVnCoV, currently
under regulatory review with the European Medicines Agency,"
CureVac said.
Existing production and formulation deals with Rentschler
Biopharma and Novartis AG remain in place despite the production
adjustment, CureVac said.
CureVac had previously published disappointing interim data on
the efficacy on its vaccine candidate CVnCoV. In June, it announced
that its vaccine had demonstrated efficacy of 47% against Covid-19
in trials involving about 40,000 people.
In a separate release today, Wacker Chemie said the move won't
have a significant impact on the earnings and sales of its
biosolutions division this year. "And it does not change our
medium-term targets for the Biosolutions division either," said Dr.
Susanne Leonhartsberger, head of the unit.
In November last year, Wacker Chemie said it had signed a
contract with CureVac for the production of more than 100 million
doses of the vaccine annually at its site in Amsterdam. Production
was supposed to begin in the first half of 2021.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
September 14, 2021 09:14 ET (13:14 GMT)
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