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The U.S. pledges $1 billion for virus vaccine development

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
The company has the vote of confidence of the United States Government.

At the end of April, AstraZeneca joined forces with Oxford University to develop, produce and distribute the drug designed by the university, if successful. According to the university, the drug is currently in the human-trials, and they will have promising results by fall.  

The drug manufacturer has just been supported by the U.S. Government with $1 billion to speed up the developing process. By this agreement, the U.S.A should have 300 million doses of vaccine available. The first batch should be available for delivery in October. On top of that, AstraZeneca must conduct a Phase 3 trial in the States on 30,000 volunteers this summer. The funding is part of the "Operation Warp Speed" initiative. Through this program, the U.S. showed its support to Moderna, Sanofi, and Johnson & Johnson, in their efforts to find a vaccine against the novel virus. 

The U.K. will be the one who will have access to the vaccine and has already secured 30 million doses for September. Those will be the first out of 100 million. The company has been funded two times by the British government with 47 million pounds and another 84 million approved this past Sunday. 

AstraZeneca works on two fronts regarding the vaccine, as it has a 7.7% stake in biotech company Moderna, whose own vaccine showed promising results. Given the fact that Moderna’s stock has increased 275% this year, AstraZeneca’s market cap exceeds $2 billion.

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Sources: marketwatch.com, theguardian.com, edition.cnn.com


This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.