August 17, 2009 / 8:00 AM / 10 years ago

UPDATE 1-Crucell wins $300 mln vaccine deals, shares jump

* Key vaccine contracts to deliver sales over 3-year period

* Supports company sales outlook

* Shares up 3.4 percent

(Adds detail, share reaction, analyst view)

AMSTERDAM, Aug 17 (Reuters) - Dutch biotechnology firm Crucell CRCL.ASCRXL.O won $300 million in contracts for it Quinvaxem paediatric vaccine, bringing total sales of the product to $800 million euros, pushing shares up by 3 percent.

The contracts, the largest ever for Crucell, cover the 2010-2012 period and are the first round of awards that are “expected to grow even further over those three years,” the company said in a statement.

Crucell shares, which fell below 17 euros a week ago, regained week losses and were up 3.4 percent in Amsterdam at 17.15 euros as of 0740 GMT. The broader pan-European health services index .SXDP was down 0.4 percent. Quinvaxem is a liquid-form cocktail that combines vaccines for five childhood diseases diphtheria, tetanus, whooping cough, hepatitis B, and Haemophilus influenzae type B.

Analysts at Jeffries said the award was earlier than expected, and supports Crucell’s projection for $750 million in product sales for 2010-2012.

Crucell has already won $500 million in contracts for Quinvaxem, which are aimed at supranational organisations for vaccination programmes in devloping countries and regions. (Reporting by Reed Stevenson; Editing by Hans Peters)

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