Aspen and J&J deal allows COVID-19 vaccine to be 'made in Africa for Africa'

South Africa's largest drugmaker Aspen Pharma (JSE: APN) has announced the basis of an agreement with a couple of the Janssen subsidiaries of US healthcare giant Johnson & Johnson (NYSE: JNJ).

The non-binding term sheet will form the basis for negotiation of a definitive agreement on the manufacture and sale of an Aspen-branded COVID-19 vaccine throughout Africa.

This agreement would expand the existing technical transfer and manufacturing agreements between the parties to grant Aspen the rights to manufacture finished SARS-CoV-2 COVID-19 vaccine product from drug substance supplied by J&J.