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- IDT Australia (IDT) shares have jumped today after the company began assessing whether it can support Australia’s vaccine production
- The pharmaceutical manufacturing company is based in Victoria and its facilities are regularly audited by both the U.S. Food and Drug Administration and the Australian Therapeutic Goods Administration
- The feasibility assessment follows a request of the Australian Government Department of Health to look into the possibility of using IDT’s sterile manufacturing facility to add to the country’s COVID-19 vaccine production
- The news comes as developments in Europe put pressure on the supply of the AstraZeneca vaccines
- Shares have jumped 54.1 per cent to trade at 28.5 cents
IDT Australia (IDT) shares have jumped today after the company began assessing whether it can support Australia’s vaccine production.
The feasibility assessment follows a request of the Australian Government Department of Health to look into the possibility of using IDT’s sterile manufacturing facility to add to the country’s COVID-19 vaccine production.
IDT Australia, or Institute of Drug Technology, is a cGMP pharmaceutical manufacturing company is based in Victoria and its facilities are regularly audited by both the U.S. Food and Drug Administration and the Australian Therapeutic Goods Administration.
As well as offering a range of contract manufacturing services, IDT specialises in high containment, high potency manufacture of active pharmaceutical ingredients and finished dose forms.
The request comes from the Department of Health as developments in Europe put pressure on the supply of the AstraZeneca vaccines.
Earlier this month, a shipment of the vaccines to Australia was blocked, after the drug manufacturer failed to meet its E.U. contract commitments.
Shares have jumped 54.1 per cent to trade at 28.5 cents at 12:50 pm AEDT.
