AstraZeneca and Oxford with more good news!
It seems like Mondays are becoming associated with positive vaccine news. This last Monday it was AstraZeneca/ Oxford that came out with positive news about their vaccine displaying up to 90% efficacy rate in late phase 3 testing. The efficacy rate is between 62-90% with a 70% average. This efficacy rate lags Pfizer/ BioNTech and Moderna’s 95%, but it is above the 50% threshold. Global equity markets started the week higher on the news. AstraZeneca/ Oxford are planning on applying for the Emergency Use Authorization (EUA) from the World Health Organization (WHO) to be able to distribute their vaccine in low income countries. Pfizer/ BioNTech applied for Emergency Use Authorization (EUA) last Friday. Although the efficacy rate of AstraZeneca/ Oxford is lower than the rest, they managed to stand-out due to: (1) they are committed to selling the vaccine without profit during the pandemic, (2) promised to distribute it in a much wider geographic footprint including a large part of the developing world, (3) the vaccine was created from a more traditional vaccine methodology which means it does not have to be stored in subzero temperatures. China and Russia are also pushing their own vaccines. Russia is claiming that theirs is showing more than 90% efficacy. The U.S. is expected to start with Covid-19 vaccination on December 11th officials say. That is one to two days after the US Food and Drug Administration (FDA) has met. Other companies in the phase 3 trials that are expected to release preliminary phase 3 data in the coming quarter are Johnson & Johnson and NovaVax.