Edition:
India

Mabion Assesses Possible Impact Of Coronavirus Outbreak On Staffing, R&D And Production


Tuesday, 17 Mar 2020 

March 17(Reuters) - Mabion SA ::SAID ON MONDAY THE COMPANY'S RESEARCH AND DEVELOPMENT WORKS MAY BE TEMPORARILY DELAYED DUE TO REMOTE WORK REQUIREMENTS FOR SOME POSITIONS IN RESPONSE TO CORONAVIRUS OUTBREAK.THE COMPANY CANNOT RULE OUT THAT POTENTIAL DISRUPTIONS TO INTEGRITY OF SUPPLY CHAIN FOR SOME COMPONENTS, MATERIALS, MACHINERY AND DEVICES WILL SLOW DOWN RESEARCH AND DEVELOPMENT WORKS AND PRODUCTION PROCESSES.SUCH SLOW-DOWN WOULD INCLUDE PRODUCTION OF THIRD VALIDATION SERIES OF LARGE SCALE PRODUCED MABIONCD20.THE COMPANY'S PROCESSES ARE CONCENTRATED ON MAINTAINING PROGRESS AND FINISHING WORKS ON MABIONCD20 VALIDATION AND MOVING TO NEXT RESEARCH STAGES FOR LARGE SCALE PROCESS PRODUCT.AT PRESENT VALIDATION WORKS ARE ON SCHEDULE WITHOUT DISRUPTION AND THE COMPANY HAS NO KNOWLEDGE OF DELAYS TO SUPPLIES OF COMPONENTS, MATERIALS, MACHINES OR DEVICES.THE COMPANY RECOGNISES INSTABILITY OF MARKET LIQUIDITY ON CORONAVIRUS AND POSSIBLE RESULTING LIMITATIONS TO FINANCING FOR THE COMPANY.THE COMPANY ACKNOWLEDGES BUT HAS SO FAR NOT BEEN AFFECTED BY POTENTIAL SHIFTS IN ADMINISTRATIVE PROCESSES INCLUDING MEDICINES REGULATOR APPROVALS, AS WELL AS DECISIONS ON PUBLIC FUNDING AND VAT TAX REFUNDS.