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AstraZeneca Plc received more than $1 billion in U.S. government funding to develop a Covid-19 vaccine from theUniversity of Oxford, and said it has supply agreements for 400 million doses.
The investment accelerates a race to secure vaccine supplies, seen as a key step toward getting global economies moving again after a lockdown-induced slump. Stock markets have been rising and falling on developments in research labs, as investors weigh the prospects for a successful shot.
The U.K. drugmaker received the money from the U.S. Biomedical Advanced Research and Development Authority and said it has secured capacity to make 1 billion doses. The move comes as the company’s vaccine candidate is still in human trials, with no guarantee of success.
23,285 in U.S.Most new cases today
-13% Change in MSCI World Index of global stocks since Wuhan lockdown, Jan. 23
-1.073 Change in U.S. treasury bond yield since Wuhan lockdown, Jan. 23
-4.8% Global GDP Tracker (annualized), April