UPDATE 2-Glaxo gets shot in arm from new H1N1 vaccine orders

* Swine flu vaccine orders now total 291 mln doses

* Implies vaccine sales of 1.5 bln pounds at 5 pounds/dose

* Analysts expect sales to be booked in Q4 and Q1 2010

(Adds analyst comment, detail on Relenza, background)

By Ben Hirschler

LONDON, Aug 4 (Reuters) - GlaxoSmithKline (GSK.L) has won orders for H1N1 swine flu vaccine from a further nine governments, taking the total number of doses ordered to 291 million, the British-based drugmaker said on Tuesday.

With more orders still to come, it could be in line for a flu vaccine windfall of more than $3 billion in the next six months or so, according to industry analysts.

Glaxo has previously said it expects to sell pandemic vaccine for around the same price as seasonal flu shots, which fetch about 5 pounds a dose, implying its total booked orders are now worth around 1.5 billion pounds ($2.54 billion).

It also has a variety of agreements in place with the U.S. government to supply pandemic products worth an additional $250 million.

"Discussions continue with governments for further supplies of the vaccine," the company added in a statement, suggesting further potential upside.

The new government contracts cover an additional 96 million doses, over and above the total of 195 million that it announced with its half-year results on July 22.

Simon Mather, an analyst in WestLB, said he expected Glaxo to book the vaccine orders during the fourth quarter of 2009 and first quarter of 2010, since supplies will only be available for mass vaccination programmes from September onwards.

Rivals in the flu vaccine space include Sanofi-Aventis (SASY.PA), Novartis (NOVN.VX), Baxter (BAX.N), Solvay (SOLB.BR), AstraZeneca (AZN.L) and CSL (CSL.AX), some of which are slightly more advanced in clinical trials. [ID:nL4596256]

However, Glaxo has taken a lead in announcing orders.

Its vaccine includes a proprietary adjuvant -- an ingredient that boosts the immune system response, which means that less active ingredient is needed in each dose.

Other companies are also working with adjuvants.

Glaxo said the first supplies of its swine flu vaccine would be available to governments from September onwards and shipments were expected to continue through early 2010.

To ensure supplies are available to poorer countries, it has allocated 20 percent of production at its Canadian manufacturing site to developing countries from early September.

In addition to bumper vaccine revenues, Glaxo also stands to book extra sales of flu drug Relenza, a rival to Roche's (ROG.VX) Tamiflu.

Sales of Relenza totalled 282 million pounds in the first half of 2008 and Glaxo is increasing annual production capacity for the inhaled medicine threefold to 190 million treatment courses by the end of 2009. ($1=.5903 Pound) (Editing by Ben Deighton and Karen Foster)