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AstraZeneca says coronavirus vaccine is 90% effective in one dosing regimen

Last updated: 05:51 23 Nov 2020 EST, First published: 02:30 23 Nov 2020 EST

AstraZeneca - AstraZeneca says COVID-19 vaccine is 90% effective in one dosing regimen

AstraZeneca PLC (LON:AZN) announced that the coronavirus (COVID-19) vaccine it has developed with Oxford University is 90% effective in one of the dosing regimens.

An independent monitoring board concluded that the AZD1222 formulation met its primary goals, protecting volunteers from the disease 14 days or more after receiving two doses of the vaccine, while there were no serious safety events.

READ: AstraZeneca says Imfinzi cancer treatment approved for less frequent dosing option

The pharma giant said it will now immediately prepare regulatory submission of the data to authorities around the world, including an emergency use listing from the World Health Organisation to speed up processes for low-income countries.

The company has the capacity to produce up to 3bn doses in 2021, which can be stored, transported and handled at normal refrigerated conditions (2-8°C) for at least six months and administered within existing healthcare settings.

The last phase of clinical trials showed that the jab had 90% efficacy when given as a half dose, followed by a full dose at least one month apart.

When administered as two full doses at least one month apart, the percentage fell to 62%, meaning the average efficacy was 70%.

The FTSE 100 firm said as more data comes in it will conduct more analysis, refining the efficacy reading and establishing the duration of protection.

This interim analysis is based on studies in the UK and Brazil where 131 out of 23,000 participants contracted the virus and showed an immune response thanks to the inoculation.

Lagging behind competitors

Clinical trials are also being conducted in the US, Japan, Russia, South Africa, Kenya and Latin America with planned trials in other European and Asian countries, with up to 60,000 participants globally.

"AstraZeneca has been on a disappointing slide this morning, as the efficacy rates for its vaccine fell short of its rivals... Regulators have already been crawling all over the data on a rolling basis so it’s hoped it’ll get the green light fast," said Susannah Streeter, analyst at Hargreaves Lansdown.

"AstraZeneca has promised to distribute the vaccine at cost while the pandemic lasts and it’s also likely to face fewer logistical hurdles in the roll out as it can be stored long term at normal fridge temperatures."

"So although the breakthrough is not going to end up boosting profits in the short term, it has got long term potential and this breakthrough will add to expertise in vaccines that AstraZeneca has lacked in the past."

Rollout time

Health minister Matt Hancock told the BBC that the UK is hoping to start rolling out vaccines next month, though the bulk of the programme will be in January, February and March.

"We hope that sometime after Easter things will be able to start to get back to normal," he said.

Shares dipped 2% to 8,152p on Monday morning.

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