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Crucell verdubbelt producti Quinvaxem in 2008

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aossa
0
Vraagje:

Betekent de inplanting in een 'Free Economic Zone' wat voor Crucell ?

Of, wat is het verschil in financiele/economische betekenis met de huidige inplanting ?

Het lijkt erop dat de huidige werknemers dienen te verhuizen of dagelijks de boot dienen te nemen naar het eiland.
[verwijderd]
1
quote:

aossa schreef:


Vraagje:

Betekent de inplanting in een 'Free Economic Zone' wat voor Crucell ?

Of, wat is het verschil in financiele/economische betekenis met de huidige inplanting ?

Het lijkt erop dat de huidige werknemers dienen te verhuizen of dagelijks de boot dienen te nemen naar het eiland.


Lijkt erop dat er allerlei investeringsvoordelen zijn (zie oa blz 9 en 10). Lijkt neus in boter. Idd de fabriek gaat dicht. FEIT.

unpan1.un.org/intradoc/groups/public/...
Huppeldepepup
0
quote:

aossa schreef:


Het lijkt erop dat de huidige werknemers dienen te verhuizen of dagelijks de boot dienen te nemen naar het eiland.


Verhuizen lijkt me zo vervelend nog niet.

IFEZ is planned to be a self-contained living and business district featuring air and sea transportation, a logistics complex, an international business center, financial services, residences, schools and hospitals, and shopping and entertainment centres.
flosz
0
quote:

aossa schreef:


huidige werknemers

Als ze maar niet verdwijnen in The Incheon Free Economic Zone triangle.
[verwijderd]
0
3.The FEZs offer a variety of advantages
for foreign-invested firms.

· First, synergy will be leveraged as
industrial clusters are formed by logistics,
financial, and high-tech industries.

· Second, national and local tax incentives
along with reduced land costs will lighten
the corporate financial burden.

· Third, foreign-invested firms that locate in
a FEZ will be allowed to give employees
unpaid weekly holidays (paid leaves
currently required) and labor flexibility will
be enhanced by allowing highly skilled and
professional work to be outsourced.

· In addition, administrative red tape will be
kept to a minimum in FEZs to eliminate as
much foreign investor inconvenience as
possible.

"second" is de moeite waard uit oogpunt van vestiging/verplaatsing
Dirk R. Wijnen
0
Weer een punt waar Sammie niet meer over kan zeuren, nu nog wat licenties en Dirk wordt ook nog wat rustiger.
Het gaat nog saai worden op dit forum.


:-)


Dirk
aossa
0
quote:

flosz schreef:


[quote=aossa]
huidige werknemers
[/quote]
Als ze maar niet verdwijnen in The Incheon Free Economic Zone triangle.

* Leisure & pleasure.
* Unpaid weekly holliday (currently paid).
* Domestic residents can attend foreign schools.

Ben te weinig Koreaan om de employee voordelen ervan in te zien. Die weekly holliday lijkt me aantrekkelijk alhoewel 'unpaid'. Zou moeten betekenen dat het salaris dusdanig is dat de vrije dag rijkelijk doorgebracht kan worden. Of is de wekelijke vrije dag noodzakelijk om wat bij te klussen of familieleden te ontvangen en rond te leiden (leisure resort) ?
aossa
0
VaxGen zit ook in de buurt.

U.S.-based VaxGen, a company noted for its AIDS vaccine, signed a contract in February 2002 with Korea Tobacco and Gingseng Corp. and Nexol Biotech (also of Korea) to set up a domestic joint venture named Celltrion that started construction for a research and development center and manufacturing facilities in May 2002 and will finish in April 2004.
flosz
0
quote:

aossa schreef:


VaxGen zit ook in de buurt.

U.S.-based VaxGen, a company noted for its AIDS vaccine, signed a contract in February 2002 with Korea Tobacco and Gingseng Corp. and Nexol Biotech (also of Korea) to set up a domestic joint venture named Celltrion that started construction for a research and development center and manufacturing facilities in May 2002 and will finish in April 2004.


"Dead-end VaxGen", één vd “failed biotechs”.

Celltrion:
investors.crucell.com/C/132631/PR/200...
aossa
0
quote:

flosz schreef:


[quote=aossa]
VaxGen zit ook in de buurt.

U.S.-based VaxGen, a company noted for its AIDS vaccine, signed a contract in February 2002 with Korea Tobacco and Gingseng Corp. and Nexol Biotech (also of Korea) to set up a domestic joint venture named Celltrion that started construction for a research and development center and manufacturing facilities in May 2002 and will finish in April 2004.
[/quote]

"Dead-end VaxGen", één vd “failed biotechs”.

Celltrion:
investors.crucell.com/C/132631/PR/200...

Celltrion Biopharmaceutical Plant, Incheon, South Korea

www.pharmaceutical-technology.com/pro...

Celltrion, a joint venture between San Francisco-based Vaxgen and a group of South Korean investors, completed the construction of a new biopharmaceutical plant in Incheon, South Korea in the final quarter of 2005; validation was completed by the end of the first quarter of 2006 and the plant was in full production by mid-2006. The plant has been built at the heart of a new technology park in Songdo New City. The site has been carefully chosen for its proximity to Seoul (the capital) and the newly opened Incheon International Airport.

The plant is being used for the production of vaccines (anthrax, small pox and meningitis B) and also for the production of recombinant therapeutic proteins. Vaxgen had earlier built and commissioned a smaller biopharmaceutical pilot plant (1,000l) in San Francisco; this was to be used for clinical and early commercial-scale manufacture and in a development role to the new plant in Korea.

Vaxgen exercised its right in February 2005 to acquire all of the shares in the US based pilot plant for $7.7m. The plant was used to train many of the Korean staff who are employed by Celltrion at the new Incheon facility and was being used to produce recombinant antigen protein Rpa102 for Vaxgen's anthrax vaccine. 75 million doses were ordered by the US government at a cost of $877.5m as part of project Bioshield but this contract was cancelled in December 2006 because of the company’s failure to meet deadlines for clinical trials. Vaxgen is now struggling

INVESTORS

The Celltrion 'investment group', founded in February 2002, included Vaxgen (48%), Nexol and Nexol Biotech (13%), Korean Tobacco and Ginseng (13%), J. Stephen and Co Ventures (13%) and others (8%). The investment in the Korean plant is $85m. The contribution from Vaxgen was in technology, training and knowledge transfer.

In mid-2006 Vaxgen sold its stake in Celltrion to the other shareholders for US$53.6m. The shares were purchased by three related Korea-based entities – Nexol Co Ltd, Nexol Biotech Co Ltd, and Nexol Venture Capital Co Ltd – which together represented Celltrion’s largest shareholder. The shares were acquired through the exercise of an exclusive option that Vaxgen granted to the Nexol entities in June 2006.
flosz
0
VaxGen had approximately $59 million in cash and equivalents and investment securities as of June 30th, 2008, or $29 million net of the Company's $30 million of outstanding convertible debt. VaxGen reported a net loss for the second quarter of $10.4 million, reflecting a non-cash asset impairment charge of $8.5 million associated with the carrying value of the Company's manufacturing and laboratory assets. VaxGen's management and board determined to take this charge in light of an aborted transaction to sell the facility and associated equipment, and reflecting the length of time that the facility has been marketed without success.

James P. Panek, VaxGen's President and CEO, commented "While we have taken several important steps to preserve capital, we are obviously disappointed that the anticipated sale of the manufacturing plant and equipment fell through, having completed diligence and agreed to terms, for reasons entirely unrelated to VaxGen or the plant. In light of this, however, our expectations going forward need to reflect the difficulty we have experienced selling this asset. The encumbrance of the facility lease represents our single largest remaining financial liability."

Since the end of the second quarter, the Company has spent $18.3 million repurchasing $22 million in face value of its convertible debt, and received repayment of $6.3 million from Raven biotechnologies in respect of the bridge loan and accrued interest. As a result, VaxGen had approximately $46.5 million in cash and equivalents and investment securities as of July 31st, 2008, or $38.5 million net of the Company's $8 million of outstanding convertible debt.

On August 25, 2008, VaxGen received a $1 million milestone payment from Emergent BioSolutions, Inc., the purchaser of the Company's recombinant anthrax vaccine development program and associated assets, related to the generation of non-clinical data demonstrating the immunopotency and improved stability of the vaccine candidate.

During the second and third quarters, VaxGen further reduced its staff and operating expenses to preserve capital as it seeks to identify a strategic transaction which can deliver shareholder value. As a result of these cost cutting efforts, VaxGen will terminate Piers Whitehead, Vice President of Corporate and Business Development as of August 31 2008.

"With our new Strategic Transaction Committee of the Board fully engaged, and given the status of the transaction process, and our business, the Company and Piers can now part ways," said James P. Panek. "Piers has made innumerable contributions to VaxGen since joining VaxGen in 2002. His strategic thinking, negotiating skills and breadth of experience have been of tremendous value to the Company. He will be missed."

VaxGen expects its average monthly cash burn to be approximately $750,000, excluding unusual items. Management considers "cash burn" to be a non-GAAP financial measure. A reconciliation to GAAP is not provided since we are unable to predict the occurrence of unusual items which could be material to the company's results of operations.

About VaxGen

VaxGen is a biopharmaceutical company based in South San Francisco, California. The company owns a state-of-the-art biopharmaceutical manufacturing facility with a 1,000-liter bioreactor that can be used to make cell culture or microbial biologic products. The facility is contained within leased premises. For more information, please visit the company's web site at www.vaxgen.com.
[verwijderd]
3
Ik neem aan dat crucell wel overleg heeft gehad met WHO over deze actie en dat er bepaalde afname afspraken zijn gemaakt over een periode van tenminste 5 tot 7 jaar. Anders begin je niet aan zo'n avontuur, inclusief de productieverdubbeling.

Mogelijk dat er ook bij de lay-out van de nieuwe plant al wordt geanticipeerd op een fully liquid haxavalent.
[verwijderd]
0
quote:

Huppeldepepup schreef:


Crucell Doubles Production of Quinvaxem® in 2008 and Prepares Move to New Korean Production Site to Facilitate Growth




Leiden, The Netherlands, 21 October 2008 - Dutch biopharma company Crucell N.V. (Euronext, Nasdaq: CRXL; Swiss Exchange: CRX) today announced that an agreement was reached to relocate Crucell's Korean production facility, where its pentavalent children's vaccine Quinvaxem® and a hepatitis B vaccine Hepavax-Gene® are produced, from the Shingal site in Yongin City, Korea to the Incheon Free Economic Zone.

All parties involved have agreed on the time line and conditions of this relocation, enabling a smooth transition to the new production facility. With engineering well underway, construction activities at the new site are due to start soon. The new facility will enable the further growth and efficient production of Quinvaxem® and Hepavax-Gene®. No further details were provided.

"We are pleased that we were able to settle all litigation around our production facility amicably, on terms beneficiary to all parties. Production of Quinvaxem® at our existing site in Shingal has already doubled compared to last year, and the new production facility will support the expected growth of our flagship products in the years to come." said Cees de Jong, Chief Operating Officer of Crucell.



Once again..."no further details"

How much capital is going to be put up by Crucell to build the facility...they leave it so vague. I was hoping for a profit next year, but if they are dropping 100 million on a new facility it will not happen. They seemed to highballing the expense to the Koreans during the lawsuit, and the way it was worded was that the landlords didn't have to contribute anything to a new facility or compensate them for taking the old one.One more unknown going into the CC.
laatookuwinstinctsturen
0
[/quote]

Once again..."no further details"

How much capital is going to be put up by Crucell to build the facility...they leave it so vague. I was hoping for a profit next year, but if they are dropping 100 million on a new facility it will not happen. They seemed to highballing the expense to the Koreans during the lawsuit, and the way it was worded was that the landlords didn't have to contribute anything to a new facility or compensate them for taking the old one.One more unknown going into the CC.
[/quote]

Hi Ron

?Cees? meldde dat de hele operatie enkele miljoenen zal gaan kosten.
De nieuwe fabriek en de benodigde equipement zal grotendeels wel geleased worden.

Volgend jaar >30 Mn operationele winst behoort nog steeds tot de mogelijkheden.

Gerekend met 30Mn bezuinigingen en oplopende R&D-kosten

JMHO

Gr.
Louis
[verwijderd]
0
quote:

laatookuwinstinctsturen schreef:


[/quote]

Once again..."no further details"

How much capital is going to be put up by Crucell to build the facility...they leave it so vague. I was hoping for a profit next year, but if they are dropping 100 million on a new facility it will not happen. They seemed to highballing the expense to the Koreans during the lawsuit, and the way it was worded was that the landlords didn't have to contribute anything to a new facility or compensate them for taking the old one.One more unknown going into the CC.
[/quote]

Hi Ron

?Cees? meldde dat de hele operatie enkele miljoenen zal gaan kosten.
De nieuwe fabriek en de benodigde equipement zal grotendeels wel geleased worden.

Volgend jaar >30 Mn operationele winst behoort nog steeds tot de mogelijkheden.

Gerekend met 30Mn bezuinigingen en oplopende R&D-kosten

JMHO

Gr.
Louis

Yes it will cost some millions...But how much, and how much this year.

Earnings for 2008 and 2009 had some upgrades in the last week. And average revenue estimate for 2009 is now at 304 million euro.

josti5
1
quote:

Nx4nX schreef:


Ik neem aan dat crucell wel overleg heeft gehad met WHO over deze actie en dat er bepaalde afname afspraken zijn gemaakt over een periode van tenminste 5 tot 7 jaar. Anders begin je niet aan zo'n avontuur, inclusief de productieverdubbeling.

Mogelijk dat er ook bij de lay-out van de nieuwe plant al wordt geanticipeerd op een fully liquid haxavalent.


Kijk: da's een praktisch-zinnige posting, niksvoornikx: die gaat in m'n (mentale) archief.
Dank je wel.
En aanbevolen, natuurlijk.
maxen
2
quote:

josti5 schreef:


[quote=Nx4nX]
Ik neem aan dat crucell wel overleg heeft gehad met WHO over deze actie en dat er bepaalde afname afspraken zijn gemaakt over een periode van tenminste 5 tot 7 jaar. Anders begin je niet aan zo'n avontuur, inclusief de productieverdubbeling.

Mogelijk dat er ook bij de lay-out van de nieuwe plant al wordt geanticipeerd op een fully liquid haxavalent.
[/quote]

Kijk: da's een praktisch-zinnige posting, niksvoornikx: die gaat in m'n (mentale) archief.
Dank je wel.
En aanbevolen, natuurlijk.

Is inderdaad het beste nieuws van de afgelopen tijd (en we hadden al flink wat). Geeft veel meer zekerheid over cashflow over de komende jaren. Overbrugging tot Per.C6 inkomsten lijkt verder verzekerd.
Zekerheid is wat aandeelhouders nu verlangen.
eddy59
0
quote:

ron banged schreef:


[quote=laatookuwinstinctsturen]
[/quote]

Once again..."no further details"

How much capital is going to be put up by Crucell to build the facility...they leave it so vague. I was hoping for a profit next year, but if they are dropping 100 million on a new facility it will not happen. They seemed to highballing the expense to the Koreans during the lawsuit, and the way it was worded was that the landlords didn't have to contribute anything to a new facility or compensate them for taking the old one.One more unknown going into the CC.
[/quote]

Hi Ron

?Cees? meldde dat de hele operatie enkele miljoenen zal gaan kosten.
De nieuwe fabriek en de benodigde equipement zal grotendeels wel geleased worden.

Volgend jaar >30 Mn operationele winst behoort nog steeds tot de mogelijkheden.

Gerekend met 30Mn bezuinigingen en oplopende R&D-kosten

JMHO

Gr.
Louis
[/quote]
Yes it will cost some millions...But how much, and how much this year.

Earnings for 2008 and 2009 had some upgrades in the last week. And average revenue estimate for 2009 is now at 304 million euro.

Property is written of in 20 years and equipment in 5 to 7 years. This will not be a massive decrease in profits.

Cybertom
0
Laten we voor de gein ook eens naar de USD kijken:

Koers: $ 1,2802 Laatste update: 06:57

Deze gaat zo ook lekker meewerken.
flosz
1
SNS securities.
21 October 2008
Crucell sees doubling sales Quinvaxem in 2008

Today, vaccine producer Crucell announced that it has reached agreement to
relocate the Korean production facility, where Crucell produces its top selling
paediatric vaccine Quinvaxem and the hepatitis B vaccine Hepavax Gene, to the
Incheon Free Economic Zone. Furthermore, the company said it doubled the
production of Quinvaxem compared to last year. Last years production was 21.3
million doses Quinvaxem. With expected doses of more than 42 million, we
expect a revenue stream from Quinvaxem of more than EUR 90m in 2008.

Quinvaxem already is Crucell largest product in terms of production and sales with
sales expected to increase in the next few years to EUR 150-180m in 2009.
Although increased competition from especially Indian vaccine producers is likely to
come on stream in the next few years, we do not expect this will have a large
impact on prices and the growth of Crucell’s market share (currently around 50% in
pentavalent paediatric vaccines). The Indian market itself should be large enough
to keep these producers occupied in the first years. Also the fact that Unicef
recently only awarded a contract worth USD 34 to Indian based vaccine producer
Panacea and contracts worth USD 500m to Crucell makes us believe that the fully
liquid vaccine of Crucell is superior.

The market for pentavalent paediatric vaccines is expected to grow to 140 million
doses in 2010. After 2010 we expect that more competition from other producers
will put pressure on prices and will limit Crucell’s market share. However,
considering the ongoing demand for pentavalent vaccines we do not see a lower
sales from Quinvaxem in the next few years. On the contrary, we believe
Quinvaxem to remain Crucell cash cow also after 2010 and will be the company’s
driving force towards profitability in 2009/2010. We reiterate our Buy
recommendation and price target of EUR 17.50.
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