AstraZeneca Plc is creating a new unit to house its coronavirus assets, after the pandemic prompted the British pharmaceutical giant to venture into the vaccine space.
The company’s COVID-19 vaccine and antibody therapy will be part of the new division, which will be led by executive Iskra Reic, Astra said in a statement Tuesday. The unit will house teams from the research, manufacturing and commercial departments.
“In order to optimize the management of our existing portfolio of vaccines and antibodies for viral respiratory infections, we are creating a unit dedicated to vaccines and immune therapies“Astra said.
“The team will focus on our COVID-19 vaccine, our long-acting antibody combination and our vaccine in development, and will address multiple variants of concern.”.
Investors and analysts have speculated whether the company’s vaccine developed with the University of Oxford would lead to further expansion in the area.
In an interview with Bloomberg last year, Astra CEO Pascal Soriot said that if the vaccine was successful, the company would consider further expansion and had “some ideas of what we could do.”
Astra has committed to providing its COVID-19 vaccine at cost price to all countries, but only during the pandemic for the wealthiest nations, fueling expectations that the company may eventually make a profit from the product. The drugmaker is in the process of negotiating agreements for its antibody treatment.
.
Ricardo is a renowned author and journalist, known for his exceptional writing on top-news stories. He currently works as a writer at the 247 News Agency, where he is known for his ability to deliver breaking news and insightful analysis on the most pressing issues of the day.
