Share prices of Beximco Pharmaceuticals dropped by 3 per cent on Monday after India had banned the export of Oxford-AstraZeneca COVID-19 vaccine manufactured by Serum Institute of India.
On November 5, 2020, the health ministry signed a tripartite memorandum of understanding with the Serum Institute of India and its local vendor Beximco Pharmaceuticals to import the vaccine from the Indian company.
As per the deal, Serum is supposed to supply three crore doses of the vaccine, 50 lakh a month, in the initial six months of the first phase at $ 5 each dose. Of the price, Beximco Pharma would get $1 for transportation for each dose.
Beximco Pharma’s share prices rose by 75 per cent between November 5, 2020 and January 3 and advanced in 14 out of the last 18 trading sessions.
However, health minister Zahid Maleque said on Monday that the government was expecting that the India government’s ban on the export of the COVID-19 vaccine manufactured by the Serum Institute would not affect the tripartite agreement with Bangladesh.
‘After getting the news on the ban, we have contacted the Indian high commission and the foreign ministry is in touch with its Indian counterpart. So far what we have learnt is that there is nothing to be worried about the vaccine supply,’ he said at a press conference.
Share prices of Beximco Pharma have shot up by 160 per cent from July 29, 2019 amid the talks of import of the COVID-19 vaccine from the Serum Institute.
Want stories like this in your inbox?
Sign up to exclusive daily email
More Stories from Stocks