- AstraZeneca vaccine approved
- Alibaba under fire
- Airline shareholders face restrictions
AstraZeneca vaccine approved
The Medicines and Healthcare products Regulatory Agency, the UK medicines regulator, has approved the vaccine jointly developed by AstraZeneca (AZN) and Oxford University for emergency supply, confirming earlier suggestions from the government that it would do so.
Astra’s chief executive Pascal Soriot had said that new data showed that its vaccine was as effective as rival jabs, with the regulator now confirming that the vaccine was "safe and effective at preventing symptomatic COVID-19, with no severe cases and no hospitalisations more than 14 days after the second dose." The pharma giant will now work with Public Health England to deliver up to 100m doses across the country.
Shares in the pharma giant had jumped on news of the imminent approval, although a muted reaction since suggests that the reality of the apparent milestone has set in. The company has so far only published interim efficacy data, and trials are ongoing to gain full regulatory approval - indeed, European regulators have said they are unlikely to approve the vaccine imminently, suggesting they lacked enough data to warrant even a conditional marketing license.
And the effect on Astra's profitability could be muted - it has committed to selling the vaccine at cost price in the UK and low-income countries while pandemic status remains in place, and it may struggle to break into markets that have their own national champions in a very political race for a vaccine.
Alibaba under fire
Shares in Alibaba (HKG: 9988) took a tumble after Chinese regulators publicly criticised payments subsidiary Ant Financial for regulatory failings and launched an antitrust enquiry into the Chinese ecommerce group. The latest blow comes after Ant’s pulled IPO, and marks the latest twist in a long-running battle between the Chinese government and Alibaba’s founder Jack Ma which has seen the group lose a quarter of its market capitalisation since October. JH
Airline shareholders face restrictions
Budget airlines Ryanair (RYA) and Wizz Air (WIZZ) confirmed that UK investors would face restrictions on share ownership following the UK’s departure from the European Union on 31 December to ensure compliance with European regulations on airline ownership and control. From 1st January, non-EU nationals will no longer be able to purchase ordinary shares, and all ordinary shares currently held will convert to restricted shares and cease to carry voting rights. JH
