AstraZeneca receives more funding to develop the vaccine

By: Miguel A. Rodriguez

09:45, 14 September 2020

International organizations pledge money to secure doses.

The British drugmaker, which earlier this year joined forces with Oxford University to create, manufacture and distribute the medicine developed by the university against the novel virus, recently got another vote of confidence.

At the end of May, the manufacturer agreed with the U.S. Government to receive $1 billion to speed up the process and to provide the first batch of vaccines in October. The country is to receive 300 million doses.

But the U.S. is not the first country that has secures some batches. The U.K. government financed the company with more than 130 million pounds and obtained 30 million out of 100 million doses for September.

Now, AstraZeneca signed new agreements that allow a broader distribution of the vaccine around the globe. To manufacture the drug, the company would receive $750 million, and allocated 300 million doses for global distribution through international foundations. Moreover, one billion doses will go to low-and middle-income countries as part of the agreement with the Serum Institute of India – an essential manufacturer of low-cost vaccines. Four hundred million doses must be provided by the end of the year.

According to Pascal Soriot, CEO of AstraZeneca, the manufacturing process has already begun. 

AstraZeneca’s stock price gained more than 0.40% during today's pre-market session.

Knowledge is power, so find out more about the market! Register now!


Share this article

The information presented herein is prepared by and does not intend to constitute Investment Advice. The information herein is provided as a general marketing communication for information purposes only and as such it has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is not subject to any prohibition on dealing ahead of the dissemination of investment research.                                                                                                                            Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience, or current financial situation.Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance and forecasts are not reliable indicators of future results.