AstraZeneca Plans To Set Up Separate Division For Vaccines & Antibody Therapies - Report

AstraZeneca Plans To Set Up Separate Division For Vaccines & Antibody Therapies - Report
  • AstraZeneca plc AZN is reportedly creating a separate division for vaccines and antibody therapies, primarily to focus on its COVID-19 shot and coronavirus treatments after a shaky start during the pandemic.
  • Related Link: AstraZeneca Looking At Potential Options for COVID-19 Vaccine Business: Reuters.
  • The new division will combine R&D, manufacturing, and commercial and medical teams.
  • Iskra Reić, currently executive vice-president for the Europe and Canada region, will lead the new unit.
  • "The team will be dedicated to our COVID-19 vaccine, our long-acting antibody combination, and our developmental vaccine addressing multiple variants of concern, as well as to our existing portfolio for a respiratory viral disease," AstraZeneca's representative said.
  • The move comes after the COVID-19 vaccine (Vaxzevria) witnessed several setbacks, including manufacturing problemsconcerns over a very rare blood clotting side effect, and disputes over data underpinning its efficacy.
  • AstraZeneca will report its third-quarter earnings on Friday, November 12, and has delivered more than 1.9 billion doses of its far cheaper shot.
  • Price Action: AZN shares are up 0.77% at $63.18 during the premarket session on the last check Wednesday.

Posted In: BriefsCOVID-19 CoronavirusCOVID-19 VaccineBiotechNewsHealth CareGeneral