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Sanofi SA (NASDAQ:SNY) CEO Paul Hudson said Thursday that the drugmaker is following the standard process of vaccine development with its COVID-19 candidate.
What Happened: “We haven’t changed anything in the way we do things, we’ve just accelerated,” Hudson told CNBC’s Jim Cramer, adding that Sanofi has been making vaccines for over 100 years.
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The Paris-based company's CEO added that the company knows what it is doing, and "moving at speed."
Hudson expects a Sanofi COVID-19 vaccine to be available sometime next year — should it prove to be safe and effective in ongoing human studies.
Why It Matters: Hudson’s comments come at a time when there is worry about political forces casting a shadow on the regulatory process concerning the vaccines.
“We feel pressure to get it right and maintain the standards," he told CNBC.
Nine drugmakers, including Sanofi, AstraZeneca plc (NYSE:AZN), Pfizer Inc (NYSE:PFE), and Moderna Inc (NASDAQ:MRNA) pledged this month to commit to the safety and well-being of vaccinated individuals despite mounting political pressure.
Pfizer and Moderna's vaccines are said to be lead candidates for a U.S. emergency approval ahead of the November presidential election.
Novavax, Inc (NASDAQ:NVAX) is the latest drugmaker to announce large-scale human testing of its COVID-19 Vaccine.
Price Action: Sanofi shares closed 0.36% higher at $50.79 on Thursday and gained almost 0.5% in the after-hours session.
Photo by Sanofi Pasteur on Flickr
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.