(Alliance News) - AstraZeneca on Monday said clinical trials in the UK and Brazil showed the AZD1222 vaccine was highly effective in preventing Covid-19, giving markets a third set of good news about potential vaccines in the past two weeks.
The Anglo-Swedish drugmaker, which is partnering with Oxford University, said no hospitalisations or severe cases of the disease were reported in participants receiving the vaccine. There were a total of 131 Covid-19 cases in the interim analysis, it noted.
AstraZeneca said one dosing regimen showed vaccine efficacy of 90% when AZD1222 was given as a half dose, followed by a full dose at least one month apart. Another dosing regimen showed 62% efficacy when given as two full doses at least one month apart. The combined analysis from both dosing regimens resulted in an average efficacy of 70%.
In addition, the Cambridge-based drugmaker said it is making "rapid progress" in manufacturing, with a capacity of up to 3 billion doses of the vaccine in 2021 on a rolling basis, pending regulatory approval. The vaccine can be stored, transported and handled at normal refrigerated conditions, comprising 2 to 8 degrees Celsius or 36 to 46 degrees Fahrenheit, for at least six months and administered within existing healthcare settings.
Two other leading vaccine candidates - one by Pfizer and German partner BioNTech and another by US firm Moderna - have been shown to be 95% effective in trials, and Pfizer has already applied for emergency use approval from US health authorities. US Food & Drug Administration vaccine advisors will meet on December 10 to discuss approval.
The beginning of vaccinations could be a crucial shift in the battle against a virus that has claimed more than 1.4 million lives worldwide, including 255,000 just in the US, since emerging from China late last year.
"These findings show that we have an effective vaccine that will save many lives," said Andrew Pollard, chief investigator of the Oxford vaccine trial. "Excitingly, we've found that one of our dosing regimens may be around 90% effective and if this dosing regime is used, more people could be vaccinated with planned vaccine supply."
AstraZeneca shares were down 1.2% early Monday.
Here is what you need to know at the London market open:
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MARKETS
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FTSE 100: up 0.4% at 6,373.50
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Hang Seng: up 0.1% at 26,480.18
Nikkei 225: Tokyo market closed for holiday.
DJIA: closed down 219.75 points, 0.8%, at 29,263.48
S&P 500: closed down 0.7% at 3,557.54
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GBP: up at USD1.3325 (USD1.3284)
EUR: firm at USD1.1868 (USD1.1861)
Gold: flat at USD1,874.43 per ounce (USD1,874.10)
Oil (Brent): up at USD45.55 a barrel (USD44.00)
(changes since previous London equities close)
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ECONOMICS AND GENERAL
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Monday's Key Economic Events still to come
Japan Labor Thanksgiving Day holiday. Financial markets closed.
0930 CET Germany flash PMI for manufacturing and services
1000 CET EU eurozone flash PMI for manufacturing and services
0930 GMT UK CIPS-Markit flash PMI for manufacturing and services
0830 EST US CFNAI Chicago Fed national activity index
0945 EST US flash manufacturing PMI
0945 EST US flash services PMI
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UK Prime Minister Boris Johnson will set out plans for a strengthened three-tier system of coronavirus restrictions to replace the national lockdown in England and to pave the way for a limited relaxation at Christmas. Johnson is to detail his winter strategy on Monday afternoon, with a proposal to deploy a major testing scheme in an attempt to win over rebels on the Conservative backbenches. It is understood that he will tell MPs that non-essential shops can open in all three tiers after the current restrictions expire on December 2, in a boost for retailers during the festive period. However, pubs and restaurants will face the harshest of the new measures with businesses in the new Tier 3 only allowed to offer takeaways, while those in Tier 2 must serve food with any drinks, The Daily Telegraph reported. The paper added cinemas will be allowed to reopen in England for places in Tier 1 and 2, and midnight mass and Christingle services will be permitted in all three tiers. Johnson also will set out a trial of the repeat testing of close contacts of individuals who test positive for Covid-19 to prevent them from having to isolate, having got his proposals signed off by his Cabinet on Sunday.
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BROKER RATING CHANGES
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RBC CUTS UNITED UTILITIES TO 'SECTOR PERFORM' ('OUTPERFORM') - TARGET 950 PENCE
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HSBC RESUMES SHAFTESBURY WITH 'HOLD' - TARGET 525 PENCE
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HSBC RESUMES CAPITAL & COUNTIES WITH 'BUY' - TARGET 211 PENCE
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COMPANIES - FTSE 100
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Aviva said it has agreed to sell its entire 80% shareholding in the Italian life insurance joint venture, Aviva Vita, to its partner UBI Banca. Aviva will receive EUR400 million in cash consideration, and proceeds will be used to further strengthen the insurer's central liquidity and to reduce debt. The move marks the London-based insurer's latest step to refocus its portfolio under the leadership of its new chief executive, Amanda Blanc. "Our strategy is about focus and delivery. The sale of Aviva Vita is another important step forward as we reshape our portfolio and follows the recent announcement of the majority sale of our Singaporean business. We will continue to be decisive as we seek to transform Aviva for the benefit of our shareholders," said Blanc.
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COMPANIES - FTSE 250
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Cineworld Group said it secured significant additional liquidity and is implementing further operational measures to improve profitability over the long term. The cinema operator said it has secured a new debt facility of USD450 million, which matures in May 2024 and has agreed bank covenant waivers until June 2022. Cineworld believes these steps will provide the company with financial and operational flexibility until lockdown restrictions in key jurisdictions are eased, and movie studios are able to bring their enhanced pipeline of major releases back to the big screen. "The measures we are announcing today deliver over USD750 million of extra liquidity to support our business. Over the long term, the operational improvements we have put in place since the start of the pandemic will further enhance Cineworld's profitability and resilience," said CEO Mooky Greidinger.
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Monday's Shareholder Meetings
CPL Resources PLC - AGM
McBride PLC - AGM
Schroder Japan Growth Fund PLC - AGM
TR European Growth Fund PLC - AGM
Mountview Estates PLC - GM re appointment of director
Mitie Group PLC - GM re acquisition of Interserve Facilities Management
Rank Group PLC - GM re fundraising
Vast Resources PLC - GM
Oncimmune Holdings PLC - AGM
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By Tom Waite; thomaslwaite@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
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