Shares of AstraZeneca PLC (LON: AZN) added around 1.5% to its value on reports that the U.S. President Donald Trump considers fast-tracking the approval for the company’s COVID-19 vaccine in the United States.
The pharma giant has been working on its coronavirus vaccine together with the Oxford University scientists. The phase 3 trials are due to be completed in November or December
“With our European supply chain due to begin production soon, we hope to make the vaccine available widely and rapidly. I would like to thank the governments of Germany, France, Italy and the Netherlands for their commitment and swift response,” said AstraZeneca’s CEO Pascal Soriot.
Moreover, AstraZeneca said it has started a testing phase for the antibody-based cocktail, that works to prevent and treat the COVID-19 infection.
“This combination of antibodies, coupled to our proprietary half-life extension technology, has the potential to improve both the effectiveness and durability of use in addition to reducing the likelihood of viral resistance,” said Astra’s executive vice president of biopharmaceuticals R&D Mene Pangalos.
AstraZeneca share price gained 1.5% in the last two days to trade around 8700p.