Skip to content
Search

Latest Stories

AstraZeneca targets two billion doses, poor countries with COVID vaccine deals

BRITISH drugmaker AstraZeneca has doubled manufacturing capacity for its potential Covid-19 vaccine to two billion doses in two deals involving Microsoft billionaire Bill Gates that guarantee early supply to lower income countries.

The deals with epidemic response group CEPI and vaccine alliance GAVI are backed by the World Health Organisation and aim to quell concerns that the company was committing all initial supplies of the vaccine to the developed world.


It is unclear if vaccines will work against the coronavirus but dozens of companies are in the race to develop one, and AstraZeneca's partnership with Oxford University is one of a handful to be backed so far by the US president Donald Trump's Covid task force.

The White House last month secured 300 million of the first doses of the potential vaccine, named AZD1222, in a deal that also committed more than $1 billion in backing to testing and manufacturing. Britain previously booked another 100 million.

Under Thursday's (4) deals, the company will supply 300 million doses, starting this year, to CEPI and GAVI as it aims at fair and equitable distribution of the vaccine, chief executive officer Pascal Soriot said.

He said AstraZeneca had also agreed terms with Serum Institute of India, the world's largest manufacturer of vaccines by volume, to supply one billion doses for low and middle-income countries.

An unspecified part of the vaccine doses produced by Serum will be used in India, with the remainder again to be distributed by GAVI in other lower-income countries, the company said on a call with journalists.

That leaves AstraZeneca with 300 million doses in planned production capacity, which has yet to be earmarked for use.

Astra is open for partners to sponsor even more volumes but it may be nearing a ceiling with plans laid out so far because the risk should be spread across different vaccine technologies, Soriot said.

Experts predict a safe and effective vaccine could take 12-18 months to develop.

The vaccine, previously known as ChAdOx1 nCoV-19, was developed by the University of Oxford and licensed to AstraZeneca.

Evidence of immunity to the new coronavirus has yet to be produced in ongoing trials but production will start nonetheless to be ready for mass roll-out once regulatory approval is given.

Soriot did not comment on the odds of the compound to be proven safe and effective, but added that trial results could be available in August, if enough trial participants caught the virus to yield reliable numbers.

"You can't spend your time wondering is it going to work. We have to commit. That's what we do in the industry, we bet on something. We are completely committed to the vaccine programme to deliver," Soriot said.

More For You

A view inside the boohoo Collective Launch Party at Hyde Sunset Kitchen + Cocktails on August 29, 2024 in Los Angeles, California. (Photo: Getty Images)
A view inside the boohoo Collective Launch Party at Hyde Sunset Kitchen + Cocktails on August 29, 2024 in Los Angeles, California. (Photo: Getty Images)

Police investigate Boohoo executives’ corporate espionage claims

POLICE forces in London, Manchester, and Kent are investigating allegations of stalking and corporate espionage targeting Boohoo executives.

The claims emerged following an investigation by Control Risks, a security consultancy hired by the retailer, which uncovered a campaign of “extensive hostile surveillance” allegedly involving multiple operatives, The Times reported.

Keep ReadingShow less
Jaidev Janardana drives Zopa’s growth with £68m investment
Jaidev Janardana (Photo:Zopa.com)

Jaidev Janardana drives Zopa’s growth with £68m investment

ONLINE bank Zopa has received a £68 million funding boost, led by AP Moller Holding, the owners of shipping giant Maersk.

The new investment aims to support Zopa’s growth plans, including the launch of a current account and further advancements in artificial intelligence (AI), the Times reported.

Keep ReadingShow less
Pakistan International Airlines eyes UK flights as EU ban is lifted
PIA’s authorisation to operate in the EU was suspended in 2020 over safety compliance concerns

Pakistan International Airlines eyes UK flights as EU ban is lifted

PAKISTAN International Airlines (PIA) said last Sunday (1) it expects to resume European routes soon and is eyeing several UK destinations after the EU aviation regulator lifted its bar on the flag carrier.

The European Union Aviation Safety Agency (EASA) suspended PIA’s authorisation to operate in the EU in June 2020 over concerns about the ability of Pakistani authorities and its Civil Aviation Authority (PCAA) to ensure compliance with international aviation standards.

Keep ReadingShow less
Lyttle, who led the company for five years, will remain until a successor is appointed. (Photo: Getty Images)
John Lyttle (Photo: Getty Images)

Former Boohoo boss cites stalking and espionage in resignation

POLICE are investigating allegations of stalking and corporate espionage involving executives at Boohoo Group, including former CEO John Lyttle, current CEO Dan Finley, and co-founder Mahmud Kamani.

The claims have shaken the fast-fashion giant, which also faces a contentious boardroom battle with major shareholder Frasers Group, the Times reported.

Keep ReadingShow less
The Reserve Bank of India (RBI) announced on Friday that the repo rate, at which it lends to commercial banks, will remain at 6.50 per cent. (Photo: Getty Images)
The Reserve Bank of India (RBI) announced on Friday that the repo rate, at which it lends to commercial banks, will remain at 6.50 per cent. (Photo: Getty Images)

India’s central bank holds rates at 6.50 per cent despite slowing growth

INDIA'S central bank has decided to keep interest rates unchanged, prioritising inflation risks over concerns about a slowdown in the country's economic growth.

The Reserve Bank of India (RBI) announced on Friday that the repo rate, at which it lends to commercial banks, will remain at 6.50 per cent. This rate has been steady since February 2023.

Keep ReadingShow less