AstraZeneca shares rise as UK coronavirus vaccine trial resumes
29 mins ago
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* © Reuters/DADO RUVIC A test tube labelled with the Vaccine is seen
in front of AstraZeneca logo in this illustration taken(Reuters)
*
* - Shares of AstraZeneca rose 1% to 8,516 pence on Monday after the
British drugmaker received the go-ahead from safety watchdogs over the
weekend to resume clinical trials for its COVID-19 vaccine candidate in the
United Kingdom.
The resumption of the trials for the vaccine, one of the most advanced in
development and regarded by governments and financial markets as one of the
best bets to tackle the health crisis in the months ahead, buoyed stock
markets around the world.
The late-stage trials of the vaccine were suspended last week after an
illness in a study participant, casting doubts on an early rollout and
sending the London-listed company's shares lower.
Global trials of the vaccine had also been paused following the UK
suspension. Brazil has approved restarting the trials and the Serum
Institute of India is awaiting permission from the Drugs Controller General
of India.
Cambridge-based AstraZeneca's shares had risen about 11% this year up to
their Friday close, giving the pharmaceutical giant a market capitalisation
of 111 billion pounds ($142 billion).
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