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AstraZeneca Vaccine 'Safe and Effective,' Study Says

AstraZeneca rises as a peer-reviewed study of the covid vaccine from the drugmaker and the University of Oxford shows it’s “safe and effective.”
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AstraZeneca  (AZN) - Get Astrazeneca PLC Sponsored ADR Report shares rose Tuesday after a peer-reviewed study of the covid vaccine created by the giant drugmaker and the University of Oxford showed it’s “safe and effective,” in the company’s words.

The study was published in The Lancet medical journal. It “demonstrated that the vaccine is safe and effective at preventing symptomatic covid-19 and that it protects against severe disease and hospitalization," AstraZeneca said in a statement.

The company’s stock recently traded at $54.83, up 1.1%. It has climbed 10% year to date.

The study was based on 11,636 participants with 131 symptomatic infections from the Phase 3 U.K. and Brazil trials conducted by Oxford University.

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As announced Nov. 23, the test, “based on the pooling of two dosing regimens, showed that the vaccine is 70.4% (95.8% CI: 54.8% to 80.6%) effective at preventing symptomatic Covid-19 occurring more than 14 days after receiving two doses of the vaccine,” AstraZeneca said.

“A secondary efficacy endpoint of prevention of severe disease demonstrated no cases of severe infections or hospitalizations in the vaccine group.”

Also Tuesday, Britain started treating its citizens with a covid vaccine developed by Pfizer  (PFE) - Get Pfizer Inc. Report and BioNTech  (BNTX) - Get BioNTech SE Report

The U.S. is likely to soon distribute that one, too, as Pfizer awaits clearance from the Food and Drug Administration. Moderna  (MRNA) - Get Moderna, Inc. Report also may receive FDA approval soon for its vaccine.

Morningstar analyst Damien Conover puts AstraZeneca’s fair value at $55. “Given the firm’s commitment to pricing the vaccine at a non-profit level, we don’t expect any impact to Astra’s fair value estimate,” he wrote in a report last month.