Crucell wins $230M of US vaccines contracts

Dutch biotechnology firm Crucell saw its share price rise nearly 2% to 18.55 euros after it revealed that it had been awarded contracts totaling over $230.0 million for its Quinvaxem and Hepavax-Gene pediatric vaccines by supranational organizations. The contracts cover the next three years until 2009, with the awarded amount growing over this period, the firm noted.

Following the World Health Organization prequalification in September, the combination vaccine was made available to supranational buying organizations, which are major customers for these vaccines that are used in large immunization programs in developing countries. Current demand for the Quinvaxem vaccine exceeds 50 million doses and the total market potential is 150 million doses a year in three to four years.

"The multiple year contracts...underline Crucell's position as a leading supplier of important vaccines. Quinvaxem is the first internationally available fully-liquid vaccine containing these five life-saving antigens and it will make a significant contribution to children's vaccination programs in the developing world," said Crucell chief executive Ronald Brus, noting that the product will be an important contributor to total 2006 group revenues, estimated at 140.0-150 million euros ($183.7-$196.8 million) and its aim to achieve cash break-even in 2007.