DUBAI: AstraZeneca is creating a separate division for vaccines and antibody therapies, the drugmaker said on Tuesday, to focus on its COVID-19 shot and the development of coronavirus treatments after a series of setbacks during the pandemic.
Reuters reported in July that the Anglo-Swedish company was exploring options for its vaccine business and expected to have greater clarity on the matter by the end of 2021.
The new division, which will be led by executive vice president of Europe and Canada, Iskra Reic, will combine research and development, manufacturing, commercial and medical teams, a company spokesperson said.
“The team will be dedicated to our COVID-19 vaccine, our long-acting antibody combination and our developmental vaccine addressing multiple variants of concern, as well as to our existing portfolio for respiratory viral disease,” the spokesperson said.
The decision to set up a new business comes after a tumultuous 18 months for the drugmaker, which developed its COVID-19 vaccine in conjunction with Oxford University.
Production problems forced the company to cut deliveries to the European Union this year, prompting the bloc to launch a legal challenge. Governments have also restricted its use among certain age groups due to links to rare blood clots and its application for US approval is taking longer than expected.
But positive results from trials of its antibody cocktail as a preventative shot against COVID-19 have given the company a major boost, potentially positioning it as a supplier of both COVID-19 vaccines and treatments.
The creation of the separate vaccines division was first reported by the Financial Times.
The move indicates AstraZeneca sees a future for its COVID-19 shot beyond the pandemic but shouldn’t be taken as a sign it is planning a full-scale entry into the broader vaccine market, Hargreaves Lansdown analyst Nicholas Hyett said.
“That would require significant new research and development investment, and as yet we have no indication that this is forthcoming,” he said.
AstraZeneca has pledged to supply vaccines at cost during the pandemic. The not-for-profit strategy and challenges with the shot fueled speculation about whether it would want to keep the business in the long term.
While AstraZeneca’s COVID-19 vaccine remained a drag on profits in the second quarter, sales of the shot more than tripled to $894 million from the first three months of the year, making it one of the company’s best-selling products.
AstraZeneca is due to report third-quarter results on Friday.
AstraZeneca to set up division for vaccines and antibody therapies
https://arab.news/gh72t
AstraZeneca to set up division for vaccines and antibody therapies
- The new division will combine research and development, manufacturing, commercial and medical teams
- The decision to set up a new business comes after a tumultuous 18 months for the drugmaker
Trump vows ‘turnaround for the ages’ in State of the Union
- “As president, I will make peace wherever I can — but I will never hesitate to confront threats to America wherever we must”
WASHINGTON: US President Donald Trump boasted Tuesday of a “turnaround for the ages” in a State of the Union speech, seeking to reverse his dismal polls and see off mounting challenges at home and abroad ahead of crucial midterm elections.
Arriving to address a joint session of Congress, Trump was welcomed with cheers and a standing ovation from Republicans — while Democrats remained seated in protest.
“My fellow Americans, our nation is back bigger, better, richer and stronger than ever before,” Trump said.
The 79-year-old hoped the primetime stage will help him to sell voters on the achievements of a breakneck and deeply divisive first year back in power.
Trump is deep underwater in opinion polls and Republicans fear they could lose their tiny majority in the House to the Democrats — paralyzing the rest of Trump’s second term and exposing him to a possible third impeachment.
The Republican however struck a defiant tone in the first official State of the Union of his second term.
“Tonight, after just one year, I can say with dignity and pride that we have achieved a transformation like no one has ever seen before, and a turnaround for the ages,” Trump said.
And he sought to seize on national enthusiasm over Team USA’s gold medal winning Olympic ice hockey performance, inviting the players to join him on the floor of the Chamber to massive cheers and chants of “USA.”
He then announced he was awarding the Presidential Medal of Freedom — the highest civilian honor — to the team’s goalie.
The New York Times said at least 40 Democrats were set to skip the speech.
‘Confront threats to America’
As US naval and air forces massed around Iran, Trump struck a tough posture.
There was intense scrutiny over whether Trump would use the speech to announce his next moves in Iran, where he has threatened to use force to crush the country’s nuclear ambitions.
“As president, I will make peace wherever I can — but I will never hesitate to confront threats to America wherever we must,” Trump was to say, according to the excerpts.
He also boasted that Venezuela, where US forces toppled longtime strongman Nicolas Maduro in January, was now shipping oil to the United States.
Long speech
Speculation mounted that the speech could be as long as three hours — far outstripping the hour and 40 minutes that Trump gave in the longest ever speech to lawmakers last year.
The annual speech to Congress is a rare chance to appear on all the major television networks simultaneously — and Trump is hoping to take advantage to shift the country’s mood ahead of November’s Midterms.
Trump has been battered by a series of blows in the second year of his second term, most recently with the Supreme Court’s striking down of his trade tariffs policy.
Trump, who earlier branded the court’s justices “fools and lapdogs” over the tariff ruling, briefly shook hands with several of the justices in attendance but went on in his speech to declare their ruling “very unfortunate.”
The billionaire has also been rocked by a backlash by the killing of two US citizens in immigration raids in Minneapolis, the Jeffrey Epstein scandal, and a new partial government shutdown.
A Washington Post-ABC News-Ipsos poll published on Sunday showed his approval rating at 39 percent. Only 41 percent approved of his handling of the economy overall, and just 32 percent on inflation.
Hockey players, Epstein victims
Adding to the interest were guests that both Republicans and Democrats brought to watch the address from the gallery, part of a long tradition.
In addition to inviting the men’s ice hockey team, Trump announced that the women’s team — which also won gold at the Olympics — would be coming to the White House.
This came after the team said it would not attend the State of the Union amid controversy over Trump’s public joke to the men’s team about having to bring the women too.
Two Democratic members of the House of Representatives said they were bringing as guests the family members of a victim of Epstein’s alleged sex-trafficking ring.
