Chiron Warns It Will Produce Fewer Flu Vaccines, Slashes Earnings Estimate

[mom cat]

Chiron Warns It Will Produce Fewer Flu Vaccines, Slashes Earnings Estimates PAUL ELIAS AP Biotechnology Writer
The Associated Press
Published: Jun 15, 2005


http://ap.tbo.com/ap/breaking/MGBLX7B50AE.html



SAN FRANCISCO(AP) - Chiron Corp. said Wednesday it may not deliver as many flu shots this year as it had promised, prompting the beleaguered biotechnology company to cut its 2005 financial forecast.
The Emeryville, Calif.-based company, one of only two major makers of the nation's flu vaccine, caused a public health scare in October when it failed to deliver 50 million shots at the beginning of flu season because of manufacturing problems. That was about half the nation's expected vaccine supply.

Chiron said its Liverpool, England, factory is still plagued with problems and that it now plans to produce 18 million to 26 million doses of its Fluvirin vaccine for the 2005-2006 season, down from a previous forecast of 25 million to 30 million doses.

Since the company's high-profile failure was announced in October, its stock has fallen more than 20 percent. Meanwhile, other drug makers are attempting to enter a U.S. flu vaccine market that was previously locked up by Chiron and the French pharmaceutical Sanofi-Aventis SA.

[Danmel]

1. Great just Great

Looking so forward to driving my 87 year old father to Canada to get him a flu shot. Why didn't they diversify their suppliers when this happened last year? What the hell is wrong with this country?

[mom cat]

2. What is wrong?..Try greed for starters. I think they are probably

trying to set the groundwork for a big price hike...due to overwhelming consumer demand, of course.

[Occulus]

3. question

:wtf: are we doing, NOT allowing as many companies to produce this vaccine as is technically possible worldwide?

Why are we actively refusing to establish more producers? Why isn't this a responsibility of our collective governments?

:wtf:

[Xithras]

4. Most firms don't want to make it

It's an extremely low profit drug, so most manufacturers aren't interested in making it.

FWIW, last winters flu shortage doesn't seem to have caused any spike in flu cases or flu deaths, so it seems to have been a non-issue anyway. Personally, I've never had a flu shot.

[bicentennial_baby]

5. No incentive, financially

Vaccine development and production is a very low-profit venture...They don't care if people die, they just want $$$