AZN Stock Price: AstraZeneca may aim higher after Russia´s coronavirus vaccine move
|- LON: AZN has been advancing to a new monthly high amid optimism for a coronavirus vaccine.
- AstraZeneca's COVID-19 immunization scheme is considered the world's most advanced.
- Russia's controversial announcement has added to pressure for a speedier delivery.
"The tiger is in the tank," said Prime Minister Boris Johnson when referring to Brexit talks, but his focus – like everybody else's – is on coronavirus and a vaccine for that disease. Brtish-based AstraZeneca (LON: AZN), based in Cambridge and trading also in Sweden and New York, is embarking on Phase 3 of its trials for a COVID-19 vaccine. The pharma firm is working in close cooperation with a university in another known town – Oxford.
A boost for developing protection against COVID-19 comes from a country known for another animal – the bear.
Russian President Vladimir Putin shocked the world by announcing his country registered the world's first COVID-19 vaccine. Rather than conducting a 30,000-strong Phase 3 test, scientists tried the solution on themselves and on the president's daughter.
While scientists have shrugged off Putin's bombastic "Sputnik" declaration, they have redoubled efforts to produce a reliable vaccine.
The AstraZeneca/ University of Oxford– led by Sarah Gilbert – reported promising results from its Phase 1/2 trial, showing safety and also providing double-protection – both antibodies and killer T-cells. AZN's vaccine candidate has more realistic expectations, saying protection may not be for life.
There is a higher chance that Brits, Americans – and basically the world´s population – would prefer a rigorously tested vaccine produced by AstraZeneca and scrutinized by the Lancet over a rushed immunization.
AstraZeneca Stock News
LON: AZN is trading marginally lower on Wednesday, changing hands at around 8,560 pence at the time of writing, yet remains close to the all-time high of 10,120. Support awaits at 8,380 while resistance is at 8,700.
It is essential to note that AstraZeneca is a large firm, worth over £112 billion, making movements slower than in smaller companies.
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