Moderna Inc and Pfizer Inc Drug Manufacturer
Moderna Inc and Pfizer Inc drug manufacturer had, earlier this year, launched two 30,000-subject trials of coronavirus vaccines that would be able to clear the way for regulatory approval and widespread use towards the end of this year. The trials, both announced on Monday, are the first late-stage studies supported by the Trump administration’s effort to speed development of measures against the novel coronavirus, adding to hope that an effective vaccine will help end the pandemic.
“Moderna stock rose 9%. Pfizer shares rose 1.6% in afterhours trade and its partner BioNTech, which developed the vaccine, rose 4.2%.”
Both vaccine candidates rely on a new technology that allows for faster development and manufacturing than traditional vaccine production methods but does not have an extensive track record. ( Source: IndiaToday)
Stated mRNA, or synthetic messenger RNA (mRNA) has been teaching the immune system to recognize and neutralize the coronavirus by mimicking its surface. Moderna, in the past has never, brought a vaccine to market and has still received nearly $1 billion from the U.S. government, that fund is helping bankroll several vaccine candidates under its Operation Warp Speed program.
Pfizer has come up to an agreement to sell vaccines for 50 million people to the US government for around $2 billion if the vaccine is effective.
More than 150 coronavirus vaccine candidates are in various stages of development, with some two dozen prospects already conducting human testing.
In another tale, Johnson and Johnson was supposed to be launching clinical trials in the U.S. in the beginning of this week and could start a larger, late-stage trial as early as September. British drug AstraZeneca Plc said it will begin large-scale US trials this summer of its vaccine under development with Oxford University researchers.