Astrazeneca is rallying in the positive today. Nothing new as such but the market is following pharma companies which are either making a cure or vaccine.
The company, which has partnered with the University of Oxford on a leading COVID-19 vaccine candidate, has already inked a deal to supply millions of doses to the U.K. Now, the drugmaker is scouting for partnerships to make the potential vaccine available worldwide.
And that’s not all. The company is holding a stake worth more than $2 billion in Moderna after shares in the American biotechnology group soared amid hopes for its coronavirus vaccine.
So it has stake in two companies, which are currently touted to be the closest to making a vaccine for Covid.
The counter today a spurt in volume of over 2 times with the stock price soaring over 7.5% in the opening bell session to hit an intraday high at Rs.2929.65.