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Jim Cramer Says Buy AstraZeneca

How's AstraZeneca looking? Jim Cramer weighs in on the stock after news that it could supply European nations with as many as 400 doses of COVID-19 vaccine.

AstraZeneca says that it could supply European nations with as many as 400 million doses of a COVID-19 vaccine under a deal reached over the weekend with Europe’s Inclusive Vaccines Alliance. However, this depends on if the vaccine is proven safe and effective.

The rollout of the vaccine could begin as soon as the end of this year and would use one now under trial by the University of Oxford.

The alliance, which includes countries such as Germany, France, Italy and the Netherlands, is looking to speed the supply of the vaccine and to, according to a statement, "make it available to other European countries that wish to participate in the initiative.”

AstraZeneca said it's building its supply chains "in parallel" across the world, including for Europe, and is looking to expand manufacturing capacity. The drugmaker is also open to working with other companies to increase access to the vaccine at "no profit" during the pandemic.

Jim Cramer said that this is a buy signal for investors looking to make a vaccine play.

You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here.

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