AstraZeneca boosts capacity for coronavirus vaccine candidate, receives US$1bn in US funding
Expenses for the vaccine, which will not be produced for a profit during the pandemic, are expected to be offset by funding by governments
Company
LON:AZN
AstraZeneca is one of the world's leading pharmaceutical companies, with a broad range of medicines designed to fight disease. AstraZeneca has over 67,000 empolyees and operates in over 100 countries with growing presence in important emerging markets.
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Expenses for the vaccine, which will not be produced for a profit during the pandemic, are expected to be offset by funding by governments
The latest developments on projects to tackle the pandemic
The pharma giant also announced Bevespi Aerosphere was approved in China for patients with chronic obstructive pulmonary disease
The firm also announced it completed the recovery of global rights to brazikumab while its candidate Enhertu received a fast-track designation
Farxiga has been shown to reduce the risk of death and hospitalisation for cardiovascular patients with a condition called reduced ejection fraction
The pharma giant would be responsible for the development and worldwide manufacturing and distribution of the candidate, if and when it is approved
It is also said it is committed to a progressive dividend policy
Arix is a backer of innovative smaller life sciences companies developing potentially breakthrough new medicines
Lynparza successfully achieved a second goal when deployed to treat men with an advanced form of the disease
“This is the fastest launch of any clinical trial in the history of AstraZeneca," according to José Baselga, the group's executive vice president in the oncology research and development segment
The broker, which retains a 'buy' recommendation, said the pharma giant is expected to be “a long-term outperformer”
The pharma company also announced Imfinzi has been approved for small cell lung cancer in combination with chemotherapies
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The base drug for the treatment is being tested in conjunction with chemotherapy in patients with the same disease
The initial US$350mln payment may be followed by optional instalments of up to US$40mln based on sales
AstraZeneca will retain rights to sell Movantik in Europe, Canada and Israel
Sales will be driven by cancer drugs Enhertu, Lynparza and selumetinib in various markets and anaemia treatment Roxadustat in China
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Britain's blue-chip index closed down nearly 43 points at 7,409. The FTSE 250, conversely, went higher, gaining over 116 points at 21,790
The two FTSE 100 constituents are scheduled to release their final results
Other updates on the coming week's agenda include Ocado, TUI, Babcock and Dunelm