With the likes of Pfizer and Moderna leading in the race to a coronavirus vaccine, AstraZeneca shares have dropped by 3% following the company’s announcement that its vaccine candidate has proven to be 70% effective. This figure is significantly lower than that of Pfizer and Moderna.
In its phase 3 study of mRNA-1273, Moderna reported its vaccine to be 94.5% effective in preventing COVID-19. Pfizer and BioNTech, on the other hand, reported that their joint effort to develop a vaccine had resulted in a 90% effectiveness rate during their phase 3 testing. On the upside, one dosing regimen of AstraZeneca showed vaccine efficacy of 90% when given as a half dose, which was followed by a full dose one month later.
While AstraZeneca may be behind in the race to a coronavirus vaccine, the pharmaceutical giant has nevertheless boasted the highest rate of sales and EPS growth among EU biopharma over a five year period. This has led to a 6% rise in AstraZeneca shares in 2020.
