Shares in AstraZeneca bounced this week after the US government signalled that it is considering fast-track approval for the group’s Covid-19 vaccine. In April AstraZeneca agreed a deal with Oxford University, which originally discovered the vaccine, to develop and distribute it.
The government could ask the US Food and Drug Administration (FDA) to grant an “emergency use authorisation” (EUA) based on data from the final-stage UK trial, rather than wait for the more extended study normally required by US regulators. Such a move, possible as early as September, would allow President Donald Trump to claim he has “turned the tide” on the virus. Not so fast, say Rhys Blakely and Henry Zeffman in The Times. AstraZeneca says it is “too early” to begin talks with US regulators about an EUA. Nonetheless, 17,000 people have been enrolled in trials in Britain, South Africa and Brazil. So if enough data emerged to convince AstraZeneca to apply for an EUA, the FDA would be under pressure to grant it quickly. It has already approved 21 Covid-19 drugs, including an antibody treatment, on an emergency basis.
Meanwhile, says Bloomberg, Pfizer and BioNTech claim that their joint Covid-19 vaccine is “on track” to be submitted for regulatory review “as early as October”. The companies, which recently clinched a $2bn deal to supply 100 million doses to the US government, released more detailed data from early-stage trials suggesting that the drug was “well tolerated” with “mild to moderate fever in fewer than 20% of participants”.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Ben Cohen: The Ben & Jerry’s co-founder who wants to break away from UnileverBen Cohen of Ben & Jerry’s ice cream is seeking to break away from Unilever, the conglomerate he sold out to in 2000. It’s a battle for the soul of the brand synonymous with corporate do-gooding.
-
Trump wants to colonise Mars – will it happen?Donald Trump wants to plant the US flag on Mars. Could humans really live there?
-
Anne Wojcicki: the 'daring' 23andMe CEO who reached too farProfile Anne Wojcicki dreamed of a revolution in personal genomics and medicine and set up 23andMe in 2006. Its collapse into bankruptcy provides a cautionary tale
-
Falling revenues and mounting debt spell trouble for Jumia TechnologiesStruggling African e-commerce platform Jumia Technologies looks headed for the exit, says Dr Matthew Partridge.
-
Next reports £1 billion in annual profits for the first time – what's next for the retailer?Clothing retailer Next has become only the fourth member of its sector to surpass £1 billion in annual profits. What does this mean for the company's future?
-
Best of British bargains: cash in on undervalued companies in the UK stock marketOpinion Michael Field, Chief Equity Market Strategist, EMEA, Morningstar, selects three attractive UK stocks where he'd put his money
-
Building firm Keller presents low debt and ample scope for growthGeotechnical contractor Keller, which supports vital global infrastructure, boasts rising profits and a cheap valuation
-
PZ Cussons share price down 75% in last decade – why it's one to watchOpinion Once-strong consumer-goods business PZ Cussons is out of favour with the market. That spells opportunity for investors, says Jamie Ward
-
Cash in on the biotech sector with specialist trust BioPharmaOpinion BioPharma has an attractive niche in lending to asset-rich biotechnology companies
-
India's stock market decline wipes out $1.3 trillion in market value – can investors stay optimistic?More than $1 trillion has been wiped off from India's stock market after investors turn to China. Has the emerging-market darling hit rock bottom?
