AstraZeneca admits flaws in its vaccine, will it pay on the stock market?
The pharmaceutical company AstraZeneca and the University of Oxford have revealed errors in the manufacture and administration of the doses of their vaccine against Covid-19 and, therefore, doubts surrounding their effectiveness. Interestingly, the volunteers who received the faulty dose showed higher rates of efficacy of the vaccine, which has raised suspicions in the financial markets.
At the moment, the AstraZeneca share price has barely felt an impact from this news on the London Stock Exchange, although it did register a 0.8% drop to GBP 7.68. Larger losses were suffered by the pharmaceutical company in the pre opening of the New York Stock Exchange where the American Depositary Receipts (ADR) of AstraZeneca fell 1.67% to 52.60 dollars.
This stumbling block on the part of the company in its search for the most anticipated vaccine in the world could complicate the future authorization to commercialize it. This could be especially true, considering in the United States, Pfizer and Moderna will foreseeably be favored since their vaccines have, so far, shown greater efficacy without any currently known error in the tests. Therefore, the future of AstraZeneca on the stock market does not look very favorable at this time.
Source: Admiral Markets MetaTrader 5. Astrazeneca ADR CFD Daily Chart. Data range: from May 10, 2016, to November 27, 2020. Prepared on November 27, 2020, at 11:40 am CET. Keep in mind that past returns do not guarantee future returns.
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