AstraZeneca’s Oxford Coronavirus Vaccine Proven to be Effective and Affordable | Financial Buzz

AstraZeneca’s Oxford Coronavirus Vaccine Proven to be Effective and Affordable

AstraZeneca (OTCMKTS: AZNCF), the Swedish pharmaceutical, along with the University of Oxford have developed a trial coronavirus vaccine that is being praised for being “highly” protective. Ultimately, the vaccine is more affordable and will entail effortless distribution compared to competitors.

An analysis of clinical trials revealed that the vaccine has an approximate 70% effectiveness in battling the virus. Researchers assured that it could rise to as much as 90% effectiveness by adjusting the dose. However, for the moment the vaccine is performing below other leading candidates. 

“I think these are really exciting results,” Dr. Andrew Pollard, chief investigator for the trial, said at a news conference. “Because the vaccine can be stored at fridge temperatures, it can be distributed around the world using the normal immunization distribution system. And so our goal … to make sure that we have a vaccine that was accessible everywhere, I think we’ve actually managed to do that.”

The biopharmaceutical promised not to make a profit on the vaccine throughout the pandemic and has already struck agreements with governments and international health organizations to sell the vaccine at approximately USD2.50 per dose. In comparison Pfizer’s vaccine is valued at USD20 and Moderna’s at USD15 – USD20. Nevertheless, AstraZeneca emphasized that it was not competing against other projects. 

“We need to be able to make a lot of vaccine for the world quickly, and it’s best if we can do it with different technologies so that if one technology runs into a roadblock, then we’ve got alternatives, we’ve got diversity,″ professor Sarah Gilbert, a leader of the Oxford team, told The Associated Press. “Diversity is going to be good here, but also in terms of manufacturing, we don’t want to run out of raw materials.”

Before distribution, all three vaccines must be given approval by regulators.