- 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 problems, concerns 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.
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