AstraZeneca, the British–Swedish pharmaceutical company, is about to roll out its own COVID-19 vaccine. Its stocks are certainly benefiting from such prospects.
On August 24, AstraZeneca stocks surged over 3% as US President Donald Trump stated that the health authorities could greenlight this vaccine in the near future. So, it could be available for Americans before the presidential elections this autumn.
Citing The Financial Times, the White House is holding consultations with the Food and Drug Administration (FDA) to grant its permission to use the jab by AstraZeneca as early as in October. Donald Trump believes that speeding up regulatory approval of the vaccine could boost his chances of becoming re-elected in November.
In fact, AstraZeneca is still experimenting with its vaccine. So, its adoption by the healthcare authorities arouses controversy among experts. Someone reckons that it would be a good solution. Others are against this jab. David Madden, an analyst at CMC Markets, says there is a long way until the vaccine proves its safety for consumers.
Importantly, the vaccine is being developed in tandem with Oxford University scientists. The company conducted successful trials on patients in April. The promising results were confirmed in the second phase trial launched in July. At present, the vaccine is being tested on a larger number of infected people. Under the second phase, the jab will be tested on 30,000 patients in the US. Besides, the research will be carried out among kids and finally in countries with low incomes like Brazil, South Africa, etc.
Importantly, AstraZeneca has not approved the emergency use of its vaccine in the US. At the same time, in May, the US authorities made a deal with the pharmaceutical giant. AstraZeneca was paid $1 billion by the US Department of Health and Human Services. Under the deal, the company will provide hospitals in the US with 300 million jabs starting from October 2020.
