Health Care Ticks Down As Investors Await Vaccine Updates -- Health Care Roundup
|02/23/2021 | 05:10pm|
Health-care companies ticked down as investors awaited further vaccine progress.
Rival drug giants are joining forces in an unusual fashion to speed production of vaccines. French drug maker Sanofi recently agreed to help make a vaccine from Pfizer and its partner BioNTech after Sanofi's experimental Covid-19 shot suffered a five-month setback, freeing up a production line in Frankfurt.
Swiss drug maker Novartis also agreed to help Pfizer and BioNTech produce more doses, while Baxter International and Endo International will support Novavax produce its shot. With tens of millions of vaccines already administered worldwide, there could soon be hundreds of millions available for use.
Shares of Novavax ticked down but remained near all-time highs as investors awaited regulatory approval for its vaccine, which is thought to have advantageous properties as compared with other vaccines.
With tens of millions of vaccines already administered worldwide, launches from Novavax and others expected in the near term could mean vaccines reach a critical mass of people sooner than anticipated.
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(END) Dow Jones Newswires