
<p><strong>TOPLINE</strong> British pharmaceutical giant AstraZeneca Wednesday announced it will transition to “modest profitability” for sales of its Covid-19 vaccine, departing from previous commitments to sell the shot on a not-for-profit basis during the pandemic.  </p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>AstraZeneca&nbsp;<a href="https://www.astrazeneca.com/content/dam/az/PDF/2021/q3/Year-to-date_and_Q3_2021_results_announcement.pdf" target="_blank" rel="noreferrer noopener">said</a>&nbsp;it intends to move towards profitability as new orders for its Covid-19 vaccine come in.</p>



<p>The drugmaker anticipates profiting on the vaccine this quarter, according to a trading update released Friday, as it fulfills news sales commitments and those made during the pandemic.&nbsp;</p>



<p>AstraZeneca said the jab, which it developed alongside the University of Oxford, will still be supplied to poorer nations on a not-for-profit basis and profits will be used to offset costs from its&nbsp;<a href="https://www.forbes.com/sites/roberthart/2021/10/11/astrazenecas-injectable-antibody-cocktail-halves-risk-of-death-or-developing-severe-covid-trial-finds/?sh=4fbe706842ce">Covid-19 antibody treatment</a>.&nbsp;</p>



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



<p>$1.05 billion. That’s how much AstraZeneca made from sales of its Covid-19 vaccine in the third quarter. This is up from $894 million and $275 million in the second and first quarter, respectively, and the company said it and sub-licensees have delivered 1.5 billion doses by the end of September. In contrast, Pfizer and Moderna&nbsp;<a href="https://www.ft.com/content/cae4eb5f-1369-4eec-88ec-6fd3afe352ab" target="_blank" rel="noreferrer noopener">booked</a>&nbsp;around $13 billion and $5 billion from vaccine sales in the third quarter.&nbsp;</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>Unlike other major drugmakers, AstraZeneca pledged to sell its Covid-19 shot at cost during the pandemic. The company’s entrance into the vaccine race took many by surprise, mostly due to the fact it had produced just one vaccine before, a nasal flu spray. The actual duration of the pledge—which has been a drag on profits—is unclear, though executives indicated they may evaluate countries on a case-by-base basis and&nbsp;<a href="https://www.ft.com/content/c474f9e1-8807-4e57-9c79-6f4af145b686" target="_blank" rel="noreferrer noopener">agreements</a>&nbsp;seen by the<em>&nbsp;Financial Times</em>&nbsp;revealed a clause enabling the company to decide itself after a certain period of time. The vaccine was originally framed as a&nbsp;<a href="https://www.washingtonpost.com/world/astrazeneca-vaccine-covax-world-clots/2021/04/15/da05b424-9876-11eb-8f0a-3384cf4fb399_story.html" target="_blank" rel="noreferrer noopener">world-saver</a>, a more practical and cheaper alternative to the mRNA shots of Pfizer and Moderna. Though it is safe and effective, a litany of issues including mistakes in clinical trials,&nbsp;<a href="https://www.forbes.com/sites/roberthart/2021/05/06/new-study-finds-small-blood-clot-risk-after-one-astrazeneca-vaccine-dose-rates-are-higher-than-expected-for-general-population/?sh=542edee13265">concerns</a>&nbsp;about rare blood clots and trouble&nbsp;<a href="https://www.forbes.com/sites/roberthart/2021/04/26/astrazeneca-sued-by-eus-executive-branch-over-covid-vaccine-delivery-delays/?sh=10aa1d6b2b35">delivering</a>&nbsp;doses on time have knocked the vaccine’s—and AstraZeneca’s—reputation worldwide, though it remains a staple of the global Covax vaccine sharing initiative. Following the success of its coronavirus shot, the drugmaker is&nbsp;<a href="https://www.ft.com/content/36cbdad9-7dd9-4ba5-a4ef-818c41cfadb3" target="_blank" rel="noreferrer noopener">creating</a>&nbsp;a division dedicated to vaccines and antibody therapies.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.ft.com/content/cae4eb5f-1369-4eec-88ec-6fd3afe352ab" target="_blank" rel="noreferrer noopener">AstraZeneca to take profits from Covid vaccine sales</a>&nbsp;(FT)</p>



<p><a href="https://www.forbes.com/sites/nathanvardi/2021/03/19/astrazenecas-pascal-soriot-was-the-hottest-ceo-in-pharma-now-hes-in-the-hot-seat/?sh=3b2e4b7f10e6">AstraZeneca’s Pascal Soriot Was The Hottest CEO In Pharma. Now He’s In The Hot Seat.</a>&nbsp;(Forbes)</p>



<p><a href="https://www.forbes.com/sites/roberthart/2021/10/11/astrazenecas-injectable-antibody-cocktail-halves-risk-of-death-or-developing-severe-covid-trial-finds/?sh=4fbe706842ce">AstraZeneca’s Injectable Antibody Cocktail Halves Risk Of Death Or Developing Severe Covid, Trial Finds</a>&nbsp;(Forbes)</p>



<p><strong><a href="https://www.forbes.com/coronavirus/">Full coverage and live updates on the Coronavirus</a></strong></p>



<p><em><strong>By Robert Hart, Forbes Staff</strong></em></p>


Young woman getting vaccinated

AstraZeneca Will Now Profit From Covid Vaccine After Pledge To Sell At Cost During Pandemic


<p><strong>TOPLINE</strong> A new study out of South Korea found that taking an AstraZeneca vaccine shot followed by a Pfizer-BioNTech vaccine shot boosted Covid-19 antibody levels six times more than receiving two Astra-Zeneca doses, as some governments around the world are giving the green light to mix Covid-19 vaccine shots for extra protection against the virus.</p>



<h3 class="wp-block-heading" id="h-key-facts">KEY FACTS</h3>



<p>The study was conducted by the Korea Disease Control and Prevention Agency, and it took a look at the effects of mixing certain vaccine doses and vaccine efficacy against coronavirus variants Alpha, Beta, Gamma and Delta, as first&nbsp;<a href="https://www.reuters.com/business/healthcare-pharmaceuticals/mixed-astrazeneca-pfizer-shot-boosts-covid-antibody-level-study-2021-07-26/" target="_blank" rel="noreferrer noopener">reported</a>&nbsp;by Reuters.</p>



<p>About 499 medical workers took part in the study, with about 200 workers receiving two doses of the AstraZeneca vaccine, 200 workers receiving two doses of the Pfizer-BioNTech vaccine and 100 workers receiving mixed doses of both the vaccines.</p>



<p>All three groups acquired antibodies, with the group that mixed AstraZeneca and Pfizer showing similar levels of antibodies as the group that received the two Pfizer shots.&nbsp;</p>



<p>The study also found that each of the vaccine doses were most effective against the Alpha variant, but&nbsp; showed decreased effectiveness between 2 ½ to 6 times on Beta, Gamma and Delta variants.</p>



<h3 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h3>



<p>Back in June, Oxford University led a&nbsp;<a href="https://www.forbes.com/sites/jemimamcevoy/2021/06/28/uk-study-offers-new-evidence-you-can-mix-and-match-coronavirus-vaccines/?sh=64cc30081082">study</a>&nbsp;to find out if mixing and matching vaccines was viable. It found that taking an AstraZeneca vaccine shot followed by a Pfizer shot created the highest T-cell response, which are immune cells that attack and destroy infected cells. The vaccine combo also generated more antibodies than taking a Pfizer shot followed by an AstraZeneca shot. Both the Oxford University study and Korea Disease Control and Prevention Agency study show that vaccines can still provide a strong immunity response to the virus if mixed and matched. The United States&nbsp;<a href="https://www.cdc.gov/vaccines/covid-19/clinical-considerations/covid-19-vaccines-us.html" target="_blank" rel="noreferrer noopener">Centers for Disease Control</a>&nbsp;does not recommend mixing doses from different vaccines since it has not yet evaluated if that practice is safe and effective. However, some countries like Germany and Spain allow for mixed shots, allowing people to receive Pfizer and Moderna shots even after they have already gotten AstraZeneca’s first dose. Canada’s health officials also started to&nbsp;<a href="https://www.cbc.ca/news/health/canada-mixing-covid-19-vaccines-astrazeneca-pfizer-moderna-naci-1.6048152" target="_blank" rel="noreferrer noopener">recommend&nbsp;</a>mixing vaccine shots last month, if people are unable to take two of the same vaccine doses.</p>



<h3 class="wp-block-heading" id="h-tangent">TANGENT</h3>



<p>As the Delta variant continues to grow internationally, more people are reporting taking multiple vaccine doses. Chancellor of Germany Angela Merkel&nbsp;<a href="https://www.bbc.com/news/world-europe-57571791" target="_blank" rel="noreferrer noopener">received</a>&nbsp;the Moderna jab at the end of June, a few months after she received her first AstraZeneca shot. One U.S. doctor received the one-shot Johnson &amp; Johnson vaccine in Seattle, but then, after moving to Canada, got one shot of the Pfizer vaccine for added protection, according to a&nbsp;<a href="https://www.cnbc.com/2021/07/26/delta-people-are-mixing-and-matching-covid-vaccines-over-concerns-about-variant.html" target="_blank" rel="noreferrer noopener">report</a>&nbsp;by CNBC. The U.S. does not consider people who have had different doses of vaccines as fully vaccinated.</p>



<h3 class="wp-block-heading" id="h-what-to-watch-out-for">WHAT TO WATCH OUT FOR</h3>



<p>Pfizer said it will be creating a&nbsp;<a href="https://www.cnbc.com/2021/07/08/pfizer-says-it-is-developing-a-covid-booster-shot-to-target-the-highly-transmissible-delta-variant.html" target="_blank" rel="noreferrer noopener">booster</a>&nbsp;shot to target the Delta variant. Trials for the booster shot&nbsp;<a href="https://www.wsmv.com/news/pfizer-booster-shot-trial-underway-in-nashville/article_5447ab60-edf5-11eb-b977-6b315cb7c729.html" target="_blank" rel="noreferrer noopener">began</a>&nbsp;in Nashville on Monday. Moderna also announced it will be developing a booster shot, with&nbsp;<a href="https://www.cbsnews.com/news/covid-19-vaccine-booster-shot-what-we-know/" target="_blank" rel="noreferrer noopener">trial</a>&nbsp;results expected by September. Some doctors are even&nbsp;<a href="https://www.cnbc.com/2021/07/20/dr-vin-gupta-encourages-jj-vaccine-recipients-to-get-a-pfizer-or-moderna-booster.html" target="_blank" rel="noreferrer noopener">encouraging</a>&nbsp;those who received the Johnson &amp; Johnson vaccine to consider getting either a Pfizer or Moderna booster shot, even though it is unclear how the booster shots may work with other vaccines.</p>



<h3 class="wp-block-heading" id="h-further-reading">FURTHER READING</h3>



<p><a href="https://www.forbes.com/sites/jemimamcevoy/2021/06/28/uk-study-offers-new-evidence-you-can-mix-and-match-coronavirus-vaccines/?sh=64cc30081082">U.K. Study Offers New Evidence You Can ‘Mix And Match’ Coronavirus Vaccines</a>&nbsp;(<em>Forbes</em>)</p>



<p><a href="http://mymusictaste.com/artist/68f14b7dcc835375b53d0ea65f4dedd7/" target="_blank" rel="noreferrer noopener">Americans are ‘mixing and matching’ Covid vaccines over concerns about the delta variant</a> (<em>CNBC</em>)</p>



<p><strong><em>By Kimberlee Speakman, Forbes Staff</em></strong></p>


Dept of Correctional Services Vaccination Rollout Launch in South Africa

Mixed AstraZeneca-Pfizer Vaccine Boosts Covid Antibody Levels, Korea Study Finds


<p><strong>TOPLINE</strong> Both the Pfizer and AstraZeneca coronavirus vaccines work well at preventing symptomatic cases of the delta coronavirus variant—which became the dominant strain in the U.S. this month—but the vaccines’ effectiveness drops significantly in patients who only have one of the two doses, according to a new study.</p>



<h3 class="wp-block-heading" id="h-key-facts">KEY FACTS</h3>



<p>A study of 19,000 people from&nbsp;<a href="https://www.nejm.org/doi/full/10.1056/NEJMoa2108891" target="_blank" rel="noreferrer noopener">Public Health England</a>&nbsp;published Wednesday found that both doses of either the Pfizer or AstraZeneca vaccines help protect against symptoms from both the alpha (B.1.1.7, also known as&nbsp;<a href="https://www.forbes.com/sites/carlieporterfield/2021/04/07/uk-coronavirus-variant-is-now-the-dominant-strain-in-us-cdc-says/">the U.K. variant</a>) and delta variants at comparable rates.</p>



<p>Two doses of the Pfizer vaccine had an effectiveness of 93.7% at preventing symptomatic alpha infections, and 88% for the delta variant.</p>



<p>Two doses of AstraZeneca were found to be 74.5% effective at preventing symptomatic alpha infections, and 67% for delta.</p>



<p>However, the effectiveness of the vaccines plummeted if a patient had only received one dose of either vaccine: the study found both to be just more than 48% effective against alpha and only about 30% effective against delta.</p>



<p>Researchers said their findings support the theory that&nbsp;<a href="https://www.nejm.org/doi/full/10.1056/NEJMoa2108891" target="_blank" rel="noreferrer noopener">prioritizing second doses</a>, especially in vulnerable populations, is an effective way to prevent coronavirus outbreaks.&nbsp;</p>



<h3 class="wp-block-heading" id="h-tangent">TANGENT</h3>



<p>The single-dose Johnson &amp; Johnson vaccine only has&nbsp;<a href="https://www.forbes.com/sites/nicholasreimann/2021/07/20/johnson--johnson-vaccine-far-less-effective-against-delta-variant-study-suggests/?sh=44f5e2864299">a 33% efficacy rate</a>&nbsp;against the delta variant, a New York University study released Tuesday suggested, although it has not been peer reviewed.&nbsp;A small study from Moderna last month suggested their vaccine also&nbsp;<a href="https://investors.modernatx.com/news-releases/news-release-details/moderna-provides-clinical-update-neutralizing-activity-its-covid" target="_blank" rel="noreferrer noopener">offers protection</a>&nbsp;against the delta strain.</p>



<h3 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h3>



<p>The delta variant, which experts believe is more transmissible than earlier forms of coronavirus, is thought to be the driving force behind <a href="https://www.forbes.com/sites/joewalsh/2021/07/17/covid-hospitalizations-rise-nationwide-amid-delta-surge---especially-in-these-states/?sh=290e647e52a8">a new wave of infections</a> and a jump in hospitalizations across the U.S. Experts have warned about the danger delta could pose. Former Food and Drug Administration head Dr. Scott Gottlieb said the “majority” of unvaccinated Americans would likely contract the delta mutation eventually, adding the disease “is going to be the <a href="https://www.forbes.com/sites/jemimamcevoy/2021/07/18/former-fda-head-says-delta-will-infect-majority-of-unvaccinated-americans-and-may-be-most-serious-virus-in-their-lifetime/?sh=22ee15f06b17">most serious virus</a> they will get in their lifetime in terms of the risk of putting them in the hospital.” The surge of new cases has pushed some cities like <a href="https://www.forbes.com/sites/graisondangor/2021/07/15/los-angeles-reportedly-will-reinstate-mask-mandate-saturday/?sh=7b879fb45373">Los Angeles</a> and <a href="https://www.forbes.com/sites/alisondurkee/2021/07/21/delta-fueled-covid-surge-spurs-new-mask-mandates---here-are-the-states-where-they-cant-legally-be-reimposed/?sh=6be7887c37b4">Las Vegas</a> to reintroduce mandatory masking in some indoor spaces.</p>



<p><strong><em>By Carlie Porterfield, Forbes Staff</em></strong></p>


A doctor’s hand with a syringe of covid-19 coronavirus vaccine.

Study Finds Pfizer And AstraZeneca Vaccines Effective Against The Delta Variant — As Long As You Get Both Doses


<p><strong>TOPLINE </strong>AstraZeneca on Tuesday announced its monoclonal antibody treatment for Covid-19 did not meet the primary goal of preventing symptoms in people who have been exposed to the coronavirus, denting hopes of a new therapeutic treatment for Covid-19 for unvaccinated people.</p>



<h3 class="wp-block-heading" id="h-key-facts">KEY FACTS</h3>



<p>The antibody therapy, AZD7442, reduced the risk of developing symptomatic Covid-19 by only 33% among all exposed patients—including those who tested negative after exposure—compared to a placebo, which was deemed to be statistically insignificant, the company&nbsp;<a href="https://www.astrazeneca.com/content/astraz/media-centre/press-releases/2021/update-on-azd7442-storm-chaser-trial.html" target="_blank" rel="noreferrer noopener">announced</a>&nbsp;in a release.</p>



<p>The data was gathered from the company’s Phase III trials which were conducted on unvaccinated adults older than 18 years with confirmed exposure to a person with Covid-19 within the previous eight days.</p>



<p>The antibody therapy, however, was 92% effective in preventing symptomatic Covid-19 compared to the placebo in patients who tested negative after exposure, suggesting that the drug may be effective in preventing symptoms in people who are not already infected.</p>



<p>The drug continues to be tested as possible prophylaxis against Covid-19 in other trials, the company noted.</p>



<h3 class="wp-block-heading" id="h-crucial-quote">CRUCIAL QUOTE</h3>



<p>The trial’s principal investigator, Dr. Myron J. Levin, noted that the drug may be effective in preventing symptomatic Covid-19 in people who are not yet infected, adding: “While Covid-19 vaccination efforts have been successful, there is still a significant need for prevention and treatment options for certain populations, including those unable to be vaccinated or those who may have an inadequate response to vaccination.”</p>



<h3 class="wp-block-heading" id="h-what-to-watch-for">WHAT TO WATCH FOR</h3>



<p>AstraZeneca’s AZD7442 was developed with support from the U.S. government. In March, the company announced that it had inked a deal with the government to supply up to half a million doses of AZD7442 for $205 million—subject to the drug receiving emergency use authorization from the U.S. Food and Drug Administration. The company said it is continuing to discuss its next steps with the U.S. government.</p>



<h3 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h3>



<p>While several effective vaccines have been developed to protect against Covid-19, effective drugs against the disease remain sparse. Similar monoclonal antibody treatments developed by Regeneron Pharmaceuticals and Eli Lilly have been authorized for use in the U.S., but supplies of the drugs remain limited. The development of therapeutics that prevent symptomatic Covid-19 is critical to ending the pandemic as vaccines are yet to be accessible to large swathes of the world’s population.</p>



<h3 class="wp-block-heading" id="h-further-reading">FURTHER READING</h3>



<p><a href="https://www.reuters.com/business/healthcare-pharmaceuticals/astrazeneca-says-its-antibody-treatment-failed-in-preventing-covid-19-exposed-2021-06-15/" target="_blank" rel="noreferrer noopener">AstraZeneca says its antibody treatment failed in preventing COVID-19 in exposed patients</a>&nbsp;(Reuters)</p>



<p><a href="https://www.marketwatch.com/story/astrazeneca-azd7442-trial-for-prevention-of-symptomatic-covid-19-didn-t-meet-primary-goal-271623738254" target="_blank" rel="noreferrer noopener">AZD7442 Trial for Prevention of Symptomatic Covid-19 Didn&#8217;t Meet Primary Goal</a> (MarketWatch)</p>



<p><strong><em>By Siladitya Ray, Forbes Staff</em></strong></p>


Kenya Vaccinates Elderly Against Covid-19

AstraZeneca’s Covid-19 Antibody Treatment Failed To Prevent Symptoms In Exposed Individuals


<p id="h-topline"><span class="has-inline-color has-vivid-red-color"><strong>TOPLINE</strong></span> AstraZeneca will likely conduct an additional global trial of its Covid-19 vaccine candidate, according to a <em>Bloomberg</em> <a href="https://www.bloomberg.com/news/articles/2020-11-26/astra-likely-to-run-fresh-global-covid-vaccine-trial-ceo-says?sref=CSMHWBLp" target="_blank" rel="noreferrer noopener">report</a>, after questions were raised about its trial results — where the company claimed up to 90% efficacy in preventing the disease — and after the company acknowledged a manufacturing error.</p>



<p id="h-key-facts"><strong><span class="has-inline-color has-vivid-red-color">KEY FACTS</span></strong></p>



<p>The new trial would be run separately instead of adding a new arm to ongoing U.S. trials of the vaccine and it would evaluate why people who received lower doses of the vaccine appeared to have better protection against Covid-19, the&nbsp;<em>Bloomberg</em>&nbsp;<a href="https://www.bloomberg.com/news/articles/2020-11-26/astra-likely-to-run-fresh-global-covid-vaccine-trial-ceo-says?sref=CSMHWBLp" target="_blank" rel="noreferrer noopener">report</a>&nbsp;noted.</p>



<p>In an interview with&nbsp;<em>Bloomberg</em>, AstraZeneca CEO Pascal Soriot said that the company has now found what looks like a more effective dose and it has to validate this, “so we need to do an additional study,” which would be outside the U.S. and faster since it would need a smaller number of patients.</p>



<p>Soriot acknowledged that data from the new trial is unlikely to hold up to regulatory scrutiny in the U.K. and the European Union, and noted that the U.S. Food and Drug Administration (FDA) is also unlikely to approve a vaccine based on a study conducted outside the U.S.</p>



<p>The company however expects authorization in some other countries before the end of 2020.</p>



<p id="h-big-number"><strong><span class="has-inline-color has-vivid-red-color">BIG NUMBER</span></strong></p>



<p>62%. That’s the efficacy rate of the vaccine among people who received two full doses of the AstraZeneca vaccine the company&nbsp;<a href="https://www.forbes.com/sites/roberthart/2020/11/23/astrazeneca-oxford-vaccine-up-to-90-effective-at-preventing-covid-19-early-results-show/?sh=52b58b434fa1">announced</a>&nbsp;on Monday. Compared to that, 90% of the people who received an initial lower dose — which the company&nbsp;<a href="https://www.nbcnews.com/health/health-news/astrazeneca-covid-vaccine-study-results-clouded-manufacturing-error-n1249093" target="_blank" rel="noreferrer noopener">acknowledged</a>&nbsp;was due to a manufacturing error — followed by a full dose were protected against Covid-19. Pfizer and Moderna have both announced that their vaccines are 95% and 94.5% effective in preventing the disease.</p>



<p id="h-crucial-quote"><strong><span class="has-inline-color has-vivid-red-color">CRUCIAL QUOTE</span></strong></p>



<p>The AstraZeneca vaccine is also being trialed in the U.S. and in his interview, Soriot acknowledged that data from that trial would now be necessary for U.S. approval stating: “The question for us was, will we need the U.S. data to get approval in the U.S. or can we get approval in the U.S. with international data, and it was never clear. Now with those results, it’s more likely that we will need the U.S. data.”</p>



<p id="h-key-background"><strong><span class="has-inline-color has-vivid-red-color">KEY BACKGROUND</span></strong></p>



<p>The vaccine developed by AstraZeneca and its partner Oxford University is a type of&nbsp;<a href="https://covid-19tracker.milkeninstitute.org/#vaccine_Non-replicating-viral-vector" target="_blank" rel="noreferrer noopener">non-replicating viral vector</a>&nbsp;that uses a harmless virus to stimulate a recipient’s immune system to develop antibodies. Compared to Pfizer and Moderna’s mRNA vaccines AstraZeneca’s shot is&nbsp;<a href="https://www.nytimes.com/2020/11/24/health/astrazeneca-covid-vaccine.html" target="_blank" rel="noreferrer noopener">easier and cheaper</a>&nbsp;to manufacture, transport, and store, which means it is more likely to be used around the world. However, the botched trial data have led to concerns on whether the vaccine will be cleared by regulators. Moncef Slaoui, the head of the U.S. government’s Operation Warp Speed vaccine program&nbsp;<a href="https://www.bloomberg.com/news/articles/2020-11-26/astra-faces-more-vaccine-questions-after-manufacturing-error?sref=CSMHWBLp" target="_blank" rel="noreferrer noopener">first disclosed</a>&nbsp;that the lower dose trial was administered to some people because of an error in the quantity of vaccine put into some vials and he added that this arm of the trial was conducted on a younger population, both of which the company had failed to disclose in its announcement on Monday. Soriot though disputed the idea that the half-dose regimen was a mistake and claimed that once researchers noticed the dosing error they formally altered the trial protocol with the backing of regulators. “I won’t tell you we expected the efficacy to be higher,” Soriot told&nbsp;<em>Bloomberg</em>. “People call it a mistake — it’s not a mistake.”</p>



<p id="h-chief-critic"><strong><span class="has-inline-color has-vivid-red-color">CHIEF CRITIC</span></strong></p>



<p>AstraZeneca’s stock took a surprising tumble following their announcement after investment bank SVB Leerink analyst Geoffrey Porges&nbsp;<a href="https://www.marketwatch.com/story/astrazenecas-covid-19-vaccine-data-fails-to-impress-wall-street-analysts-with-its-effectiveness-in-clinical-trials-2020-11-23?mod=mw_latestnews" target="_blank" rel="noreferrer noopener">wrote in an investor note</a>&nbsp;that the company was “clearly already positioning the product as suitable for use in less developed countries, where their relatively favorable storage conditions&#8230;may be advantageous.” Porges added,&nbsp; “We believe that this product will never be licensed in the U.S.” Even Dr. Anthony Fauci, the country’s leading infectious disease official&nbsp;<a href="https://www.statnews.com/2020/11/23/astrazeneca-covid-19-vaccine-is-70-effective-on-average-early-data-show/" target="_blank" rel="noreferrer noopener">told</a>&nbsp;<em>STAT News,&nbsp;</em>“there’s going to be a lot of hand waving” as people try to explain the results.</p>



<p id="h-further-reading"><strong><span class="has-inline-color has-vivid-red-color">FURTHER READING</span></strong></p>



<p><a href="https://www.wired.com/story/the-astrazeneca-covid-vaccine-data-isnt-up-to-snuff/" target="_blank" rel="noreferrer noopener">Astra Likely to Run Additional Global Vaccine Test, CEO Says (Bloomberg)</a></p>



<p><a href="https://www.wired.com/story/the-astrazeneca-covid-vaccine-data-isnt-up-to-snuff/" target="_blank" rel="noreferrer noopener">The AstraZeneca Covid Vaccine Data Isn&#8217;t Up to Snuff</a>&nbsp;(Wired)</p>



<p><a href="https://www.forbes.com/sites/roberthart/2020/11/23/astrazeneca-oxford-vaccine-up-to-90-effective-at-preventing-covid-19-early-results-show/?sh=52b58b434fa1">AstraZeneca-Oxford Vaccine Up To 90% Effective At Preventing Covid-19, Early Results Show</a> (Forbes)</p>



<p><em>-By Siladitya Ray, Forbes Staff</em></p>


Drugmaker CEOs Testify Before Senate Finance Committee On Drug Pricing

AstraZeneca May Conduct Additional Trial For Covid-19 Vaccine After Acknowledging Errors In Initial Trial


<p>As a Biden win becomes increasingly likely, investors on Wall Street are turning their focus to the possibility of another round of fiscal stimulus, vaccine data for phase-three candidates and potential central bank measures to boost economic activity and keep inflation in line with targets.</p>



<h4 class="wp-block-heading">KEY FACTS</h4>



<p>Vaccination is &#8220;essential for the normalization of the economy,&#8221; Goldman Sachs said in a recent note, and wealth advisory Glenmede doesn’t expect earnings will reach new highs until the second half of 2021, which lines up with estimates for widespread vaccine delivery.</p>



<p>A slew of vaccine data is expected in the coming days and weeks from drug-makers such as Pfizer, Moderna, AstraZenaca and Johnson &amp; Johnson–all of which have said they expect clinical trial results before the end of the year.&nbsp;</p>



<p>Central bank easing from the Federal Reserve is perhaps &#8220;the biggest macro topic not receiving enough attention,&#8221; notes Vital Knowledge Media Founder Adam Crisafulli notes, but that should start to change domestically on Thursday, as the Federal Reserve concludes one of its eight annual Federal Open Market Committee meetings, during which it often makes key monetary policy decisions.</p>



<p>Senate Majority Mitch McConnell (R-Ky.), &#8220;an erstwhile obstacle&#8221; to the package, per Crisafulli,&nbsp;<a href="https://www.forbes.com/sites/sarahhansen/2020/11/04/mcconnell-changes-his-tune-on-stimulus-we-need-to-do-it-before-the-end-of-the-year/?sh=30c0b0056e41">changed his tune on stimulus</a>&nbsp;on Wednesday, saying Congress should pass another bill by year&#8217;s end and suggested assistance be given to state and local governments–a sticking point for the Democrats&#8217; lead negotiator, House Speaker Nancy Pelosi (D-Calif.).</p>



<p>Fiscal stimulus to state and local governments is now expected to be less generous than under a Blue Wave scenario, UBS noted on Wednesday.</p>



<h4 class="wp-block-heading">KEY BACKGROUND</h4>



<p>The election outcome that Wall Street thinks is now most likely–a Biden victory and a split Congress–&#8221;couldn’t have been better for stocks,&#8221; Crisafulli noted on Thursday–a sentiment echoed by many Wall Street experts since Wednesday given that a split Congress makes it unlikely Biden&#8217;s proposed corporate tax hike becomes law. The economic recovery, on the other hand, remains sluggish and awash with disparities such as continued job losses despite better-than-expected corporate earnings (especially in tech). Meanwhile, the&nbsp;<a href="https://www.forbes.com/sites/siladityaray/2020/11/05/day-after-election-us-records-all-time-high-of-103000-new-covid-19-cases/">ongoing surge</a>&nbsp;in new Covid-19 cases further stains the economic outlook, fueling discussions about the need for a coronavirus vaccine and further fiscal relief.</p>



<h4 class="wp-block-heading">TANGENT</h4>



<p>Top vaccine candidate AstraZeneca PLC anticipates results from its late-stage trials later this year, the British drug-maker&nbsp;<a href="https://www.astrazeneca.com/content/dam/az/PDF/2020/q3/Year-to-date_and_Q3_2020_results_announcement.pdf" target="_blank" rel="noreferrer noopener">said Thursday</a>&nbsp;when it reported third-quarter earnings. It&#8217;s unclear, however, how soon it could roll those out, and the firm&nbsp;<a href="https://www.cnbc.com/2020/11/05/astrazeneca-coronavirus-vaccine-drugmaker-under-pressure-to-deliver.html" target="_blank" rel="noreferrer noopener">previously missed</a>&nbsp;a September target to deliver 30 million vaccines in the United Kingdom. &#8220;Even if the vaccine numbers are spectacular,&#8221; Crisafulli says, &#8220;it still won’t be until the spring or summer when these will be made available to the general population.&#8221;</p>



<h4 class="wp-block-heading">BIG NUMBER</h4>



<p>$1.9 trillion. That’s the largest amount Mnuchin offered for the stimulus package before the election, much higher than the amount Senate Republicans have been eyeing (they&nbsp;<a href="https://www.cnn.com/2020/07/27/politics/stimulus-negotiations-republican-plan/index.html" target="_blank" rel="noreferrer noopener">proposed</a>&nbsp;a $1 trillion bill in July), but still below the $2.2 trillion proposal House Democrats&nbsp;<a href="https://www.forbes.com/sites/sarahhansen/2020/10/01/house-passes-22-trillion-stimulus-bill-but-that-doesnt-mean-1200-checks-and-more-unemployment-benefits-are-on-the-way/">passed</a>&nbsp;in October.</p>



<h4 class="wp-block-heading">WHAT TO WATCH FOR</h4>



<p>Morgan Stanley said in a weekend note that it’s unlikely Federal Reserve policymakers will “soften their call for additional fiscal support”, adding that despite a better-than-expected recovery, and a return to pre-Covid economic levels that could happen in the second quarter, “Policymakers have not let this economic momentum distract from the deep structural problems, particularly in the labor market, that could unfold over the longer run in the absence of further fiscal support.”</p>



<h4 class="wp-block-heading">WHAT WE DON&#8217;T KNOW</h4>



<p>Election results. Razor thin margins remain a theme across pending state vote counts. As of early Thursday afternoon, former vice president Joe Biden was leading President Trump in the electoral college,<a href="https://www.forbes.com/sites/andrewsolender/2020/11/04/electoral-college-2020-biden-takes-wisconsin-bringing-him-close-to-electoral-win/?sh=724504634448">&nbsp;with 264 votes</a>, as called by AP, compared with Trump&#8217;s 214. The Senate race, on the other hand, was leaning<a href="https://www.forbes.com/sites/tommybeer/2020/11/04/6-senate-seats-yet-to-be-called---heres-where-the-race-stands/">&nbsp;solidly Republican</a>.&nbsp;</p>



<h2 class="wp-block-heading">FURTHER READING</h2>



<p><a href="https://www.forbes.com/sites/sarahhansen/2020/11/04/mcconnell-changes-his-tune-on-stimulus-we-need-to-do-it-before-the-end-of-the-year/">McConnell Changes His Tune On Stimulus: ‘We Need To Do It Before The End Of The Year’</a>&nbsp;<em>(Forbes)</em></p>



<p><a href="https://www.forbes.com/sites/jonathanponciano/2020/11/05/stocks-election-results-dow-unemployment/">Stocks Keep Surging As Election Results Appear To Clear Up, But Unemployment Data Is Still Ugly</a><em>&nbsp;(Forbes)</em></p>



<p><a href="https://www.forbes.com/sites/sarahhansen/2020/11/05/unemployment-claims-remain-above-pre-pandemic-highs-with-no-more-federal-aid-in-sight/">Unemployment Claims Remain Above Pre-Pandemic Highs With No More Federal Aid In Sight</a>&nbsp;<em>(Forbes)</em></p>



<p><a href="https://www.forbes.com/sites/jonathanponciano/2020/11/04/election-stocks-that-are-surging-and-tanking/">Here Are The Stocks That Are Surging–And Tanking–As Blue Wave Hopes Fade</a> <em>(Forbes)</em></p>



<p><em>-By Jonathan Ponciano,Forbes Staff</em></p>


Genetic test

A Biden Win And Split Congress Is Wall Street’s Best-Case Scenario, Now Investors Turn Focus To These 3 Big Issues


<p>AstraZeneca has resumed its phase three clinical trials in the United Kingdom for the company’s coronavirus vaccine candidate after abruptly&nbsp;<a href="https://www.forbes.com/sites/danielcassady/2020/09/08/astrazeneca-puts-phase-3-vaccine-trial-on-hold-shares-drop-6/#45d5afba43fd">halting</a>&nbsp;the program earlier this week over fears that a study participant living in the U.K. was reportedly experiencing negative side effects from the drug.</p>



<h5 class="wp-block-heading">KEY FACTS</h5>



<p>On Saturday, AstraZeneca announced trials were back on after the pause, which the firm said in a statement was voluntary and allowed for a safety review by independent parties and regulators worldwide.</p>



<p>The U.K. leg of the investigations determined it was safe to continue, according to a release, and the U.K. Medicines Health Regulatory Authority gave their blessing for the trials to resume.</p>



<p>The phase three trials were called off earlier this week after reports that a participant had side effects that could possibly be linked to the trial.</p>



<p>Astrazeneca called the pause a “<a href="https://www.forbes.com/sites/danielcassady/2020/09/08/astrazeneca-puts-phase-3-vaccine-trial-on-hold-shares-drop-6/#45d5afba43fd">routine action</a>” when a clinical trial comes across a potentially unexplained illness in a participant that must be investigated to “maintain the integrity of the trials.”</p>



<p>AstraZeneca is developing the candidate alongside the University of Oxford, and has enjoyed a boost of&nbsp;<a href="https://www.forbes.com/sites/danielcassady/2020/09/08/astrazeneca-puts-phase-3-vaccine-trial-on-hold-shares-drop-6/#45d5afba43fd">$1 billion</a>&nbsp;from the U.S. government in funding along with 400 million doses on pre-order if the vaccine turns out to be safe and effective.</p>



<h5 class="wp-block-heading">CRUCIAL QUOTE</h5>



<p>“AstraZeneca is committed to the safety of trial participants and the highest standards of conduct in clinical trials,” a Saturday statement from the firm read. “The Company will continue to work with health authorities across the world and be guided as to when other clinical trials can resume to provide the vaccine broadly, equitably and at no profit during this pandemic.”</p>



<h5 class="wp-block-heading">KEY BACKGROUND</h5>



<p>The trial’s pause and the idea of vaccine side effects has made many uneasy. Experts say it will likely take widespread vaccination against the coronavirus to end the pandemic and for life to return to any semblance of normal. But in the U.S., the vaccine has been politicized as the presidential race heats up. U.S. President Donald Trump has promised the possibility of a successful vaccine release well before the end of the year—even before Election Day in November—while health officials, like the nation’s leading infectious disease expert Anthony Fauci say&nbsp;<a href="https://www.forbes.com/sites/sarahhansen/2020/09/11/fauci-says-it-will-be-well-into-2021-before-us-returns-to-normal-from-coronavirus/#7cdbfe962f7c">next year</a>&nbsp;is more likely. Critics have accused Trump and his administration of pressuring health organizations to speed up the vaccine approval process to help Trump’s chances at reelection as&nbsp;<a href="https://www.forbes.com/sites/jackbrewster/2020/09/10/todays-2020-election-polls-biden-keeps-strong-national-lead-but-pennsylvania-florida-tighten/#15a278445f1f">polls</a>&nbsp;show his opponent Democratic nominee Joe Biden with a slight leg up. Trump and health officials like Fauci and Health and Human Services Secretary Alex Azar Thursday have&nbsp;<a href="https://www.forbes.com/sites/andrewsolender/2020/09/08/fauci-worries-operation-warp-speed-fuels-perception-vaccine-is-being-rushed/#1aae5ce621dc">denied</a>&nbsp;the accusations, with Azar insisting last week that “any vaccine that comes out is going to meet FDA’s&nbsp;<a href="https://www.forbes.com/sites/carlieporterfield/2020/09/03/azar-denies-november-goal-for-vaccine-preparedness-is-tied-to-presidential-election/#3f9d28c37f73">gold standards</a>&nbsp;for authorization or licensure. The president’s made that clear, I’ve made that clear, the FDA commissioner has made that clear.”</p>



<h2 class="wp-block-heading">FURTHER READING</h2>



<p><a href="https://www.forbes.com/sites/danielcassady/2020/09/08/astrazeneca-puts-phase-3-vaccine-trial-on-hold-shares-drop-6/#45d5afba43fd">AstraZeneca Puts Phase 3 Vaccine Trial On Hold, Shares Drop 6%</a>&nbsp;(<em>Forbes</em>)</p>



<p><a href="https://www.forbes.com/sites/karenrobinsonjacobs/2020/09/09/fauci-says-astrazeneca-pause-unfortunate-who-stresses-safety-over-speed-in-race-for-covid-19-vaccine/#905b43346544">Fauci Says AstraZeneca Pause ‘Unfortunate’, WHO Stresses Safety Over Speed In Race For Covid-19 Vaccine</a>&nbsp;(<em>Forbes</em>)</p>



<p><a href="https://www.forbes.com/sites/sarahhansen/2020/09/11/fauci-says-it-will-be-well-into-2021-before-us-returns-to-normal-from-coronavirus/#7cdbfe962f7c">Fauci Says It Will Be ‘Well Into 2021’ Before U.S. Returns To Normal From Coronavirus</a>&nbsp;(<em>Forbes</em>)</p>



<p><em>-By Carlie Porterfield,Forbes Staff</em></p>


Tag: AstraZeneca