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news.Canada-based biopharmaceutical company Cangene has reported that the Chemical Biological Medical Systems Project Management Office of the US Department of Defense has signed an agreement to purchase Cangene's Vaccinia Immune Globulin Intravenous (human).
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The four-year, sole-source base contract is valued at approximately $4.9 million. Cangene expects to deliver the product during fiscal 2010. The US Department of Defense (DoD) has two options to purchase additional product during the course of the contract, which if exercised, could add approximately $7 million to the total value.
This contract is independent of Cangene’s agreement with the US Centers for Disease Control and Prevention for the supply of Vaccinia Immune Globulin Intravenous (VIG); the DoD’s stockpile of the product will be maintained for use by US military personnel under the DoD’s smallpox immunization program. Cangene’s VIG product was approved by the FDA in 2005.
John Langstaff, president and CEO of Cangene, said: “Since this drug was approved, we have signed a number of agreements with government groups to supply product to their stockpiles – this illustrates the benefit of having an FDA license and that there is an ongoing market for the product.”