AstraZeneca and Moderna are among the array of healthcare providers whose coronavirus vaccines are expected to be approved by the World Health Organization in the coming weeks, Reuters revealed in a recent report.
Moderna’s vaccine, which is already in use in the United States and certain overseas countries, is expected to be approved by the WHO by the end of next month. The vaccine that was developed by AstraZeneca and manufactured by the Serum Institute of India is expected to be approved either by the end of January or during February.
While AstraZeneca shares recently traded at $51.92 (a decline of 1.2%), Moderna stocks traded at $123.40 (down 1.3%). According to Morningstar analyst Karen Andersen, the fair value for AstraZeneca should be $55.
She explained that while AstraZeneca has been unable to penetrate the U.S. market due to delays in development as well as the efforts of Pfizer, BioNTech, and Moderna, the company has nevertheless built a distinguished reputation for itself in the pharma and biotech industry, which should help to carry the company when it comes to vaccine sales in other territories.
Furthermore, Andersen declared: “AstraZeneca’s pipeline is emerging as one of the strongest in the drug group, and we think the company is developing several key products that hold blockbuster potential.”
