Move shows company sees future for Covid-19 vaccine beyond pandemic, says analyst
AstraZeneca is creating a separate division for vaccines and antibody therapies, the drugmaker said on Tuesday, to focus on its Covid-19 shot and the development of coronavirus treatments after a series of setbacks during the pandemic.
The new division, which will be led by executive vice-president of Europe and Canada, Iskra Reic, will combine research & development, manufacturing, commercial and medical teams, a company spokesperson said. The decision to set up a new business comes after a tumultuous 18 months for the drugmaker, which developed its Covid-19 vaccine in conjunction with Oxford University.
But positive results from trials of its antibody cocktail as a preventive shot against Covid-19 have given the company a major boost, potentially positioning it as a supplier of both Covid-19 vaccines and treatments.The move indicates AstraZeneca sees a future for its Covid-19 shot beyond the pandemic but should not be taken as a sign it is planning a full-scale entry into the broader vaccine market, Hargreaves Lansdown analyst Nicholas Hyett said.
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