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Here’s Why BXP Share Price Surged 48.2% Today

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Updated: 28 August 2020

Shares of Beximco Pharmaceuticals (LON: BXP) today surged 48.2% after the company announced an exclusive deal with the Serum Institute of India to be the sole supplier of the COVID-19 vaccine in Bangladesh.

The deal will see Beximco contribute funds to facilitate the vaccine’s development, which will be adjusted according to the vaccine’s final pricing.

The Serum Institute has partnered with AstraZeneca, the Gates Foundation and Gavi to produce over a billion vaccines for global distribution.

Beximco clarified that the vaccines supplied to Bangladesh will be on a priority basis and that its investment will depend on regulatory approvals, SII’s production capacity and its earlier commitments to other countries.

BXP share price

Tradingview chart of BXP share price 28082020

Source: Tradingview

BXP shares today surged 48.2% to trade at 81.5p having ended yesterday’s session trading at 55.0p.