Chiron Updates Delivery Expectations for U.S. Government H5N1 Vaccine Stockpile Contract
24 Febrero 2006 - 3:01PM
Business Wire
Chiron Corporation (NASDAQ:CHIR) today announced that the U.S.
Department of Health and Human Services (HHS) agreed to extend
delivery terms for a stockpile of H5N1 bulk influenza vaccine(1)
for the U.S. government. In October 2005, Chiron announced that it
had entered into a contract with the U.S. government to stockpile
H5N1 bulk vaccine. Chiron is producing this stockpile at its
facility in Liverpool, England, and expects to complete
approximately 70 percent of the order before turning operations to
annual production of FLUVIRIN(R) influenza virus vaccine in March.
Chiron expects to recognize the revenue for the completed doses
upon fulfillment of the contract. Chiron expects to resume work on
fulfilling the contract following the conclusion of the FLUVIRIN
vaccine campaign in the fall of 2006. As part of its avian
influenza vaccine strategy, Chiron expects that it can manufacture
avian influenza vaccines during the traditional break between
seasonal influenza vaccine campaigns, finishing these activities in
time for the seasonal influenza vaccine production to avoid
interruption of the normal manufacturing cycle. About Chiron Chiron
delivers innovative and valuable products to protect human health
by advancing pioneering science across the landscape of
biotechnology. The company works to deliver on the limitless
promise of science and make a positive difference in people's
lives. For more information, please visit www.chiron.com. About
Chiron Vaccines Chiron Vaccines, the world's fifth-largest vaccines
business, is headquartered in Oxford, United Kingdom, and has
facilities located throughout Europe, the United States and Asia.
Chiron Vaccines is the world's second-largest manufacturer of flu
vaccines and has important meningococcal, pediatric and travel
vaccine franchises. The company's portfolio of products includes
vaccines for influenza, meningococcus C, rabies, tick-borne
encephalitis, Haemophilus influenzae B (Hib), polio, mumps, measles
and rubella (MMR) and diphtheria, tetanus and pertussis (whooping
cough). This news release contains forward-looking statements,
including statements regarding development and manufacturing of
pandemic influenza vaccines, revenue from stockpiling programs,
resumption of production of stockpile H5N1 bulk vaccine for the
United States in the fall of 2006, and completion of the FLUVIRIN
campaign by the fall of 2006 which involve risks and uncertainties
and are subject to change. A discussion of the company's operations
and financial condition, including factors that may affect its
business and future prospects that could cause actual results and
developments to differ materially from those expressed or implied
by these forward-looking statements, is contained in documents the
company has filed with the SEC, including the Form 10-K for the
year ended December 31, 2004, and the Form 10-Q for the quarter
ended September 30, 2005, and will be contained in all subsequent
periodic filings made with the SEC. These documents identify
important factors that could cause the company's actual performance
to differ from current expectations, including, among others,
litigation and investigations relating to influenza vaccines, the
outcome of clinical trials, regulatory review and approvals,
manufacturing capabilities and issues, intellectual property
protections and defenses, litigation, stock-price and interest-rate
volatility, and marketing effectiveness. In particular, there can
be no assurance that additional issues with respect to influenza
vaccines or Chiron's manufacturing generally will not arise in the
future, or that Chiron will be able to timely complete the
production of FLUVIRIN vaccine for the 2006-2007 influenza season,
successfully develop, manufacture and receive approval to market
new products (including H5N1 and other pandemic influenza
vaccines), or achieve market acceptance for such new products. The
company may face additional competition in the influenza market in
the future and challenges in distribution arrangements as a result
of vaccine developments. Chiron does not undertake an obligation to
update the forward-looking information the company is giving today.
(1) The stockpile vaccine is for government supply and is not
approved for general sale. NOTE: FLUVIRIN is a registered trademark
of Chiron.
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