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Health and Healthcare

GlaxoSmithKline, Novartis and Iomi Land Avian Flu Vaccine Contracts

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By Douglas A. McIntyre Published
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From BioHealth Investor

by H.S. Ayoub
BioHealth Investor.com

The Department of Health and Human Services (DHHS) has awarded GlaxoSmithKline (GSK), Novartis Vaccines and Diagnostics (NVS) and Iomi (IOMI) all a total of $133 million in funding for the development of H5N1 Avain Flu vaccines.

GSK’s contract will total $63 million over 5 years, while Novartis will receive $55 million over the same period.

Iomi was awarded just $14 million over 15 months for the completion of phase I trials of its skin patch designed to stimulate the immune system when used along with vaccines. The company can be awarded a further $114 million if the study shows positive results.

Each of the three companies are expected, under the terms of the contracts, to be able to provide 150 million doses of the vaccines within 6 months of the start of an Avain Flu pandemic attack.

Shares of GSK and Novartis both gained just a little over 1% on Wednesday, while Iomi jumped more than 15% to end trading at $5.88, with an intra-day high of $6.85.

http://www.biohealthinvestor.com/

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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