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UK Rethinks COVID-19 Antibody Supply Deal With AstraZeneca: Bloomberg

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UK Rethinks COVID-19 Antibody Supply Deal With AstraZeneca: Bloomberg
  • The U.K. government has reconsidered its plan to buy one million doses of AstraZeneca Plc’s (NASDAQ: AZN) anti-SARS-CoV-2 antibody, according to sources quoted by Bloomberg.
  • The rethink comes shortly before the first data from the treatment’s trials that are expected in the coming weeks.
  • In the U.K., where two-thirds of the population have already received the first dose of a COVID-19 vaccine, the potential benefits of AZD7442 may no longer hold enough allure to convince the government to follow through on its agreement with AstraZeneca.
  • AstraZeneca agreed to provide the U.K. with one million doses of its long-acting COVID-19 antibody AZD7442 in November.
  • The deal announced last year was a non-binding and in-principle agreement. By contrast, the U.S. increased its order for AstraZeneca’s antibody treatment by half a million doses in March, taking its potential supplies to 700,000 in 2021.
  • AstraZeneca has completed the dosing in Phase 2/3 trials of AZD7442 in prophylaxis and post-exposure prophylaxis settings.
  • Data from the post-exposure prophylaxis study are due in the first half of 2021, with the results of the prophylaxis study set to follow before the end of 2021.
  • AstraZeneca was still dosing in an outpatient treatment setting phase 2/3 study as of its latest update.
  • The company has five advanced-stage trials testing a combination of two long-acting antibodies to prevent and treat COVID-19 in different populations.
  • Price Action: AZN shares are trading 1.12% higher at $54.71 during the market session on the last check Wednesday.
 

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