The Editor 

Vaccines and value

John Hughman

Vaccines and value

Another week, another Covid vaccine, this one reportedly even better than the last – more effective and deliverable without a ready supply of liquid nitrogen to hand. This week it has been the turn of US biotech outfit Moderna to give the market a lift, but with a raft of vaccine trials still to announce results this could become a regular event. Moderna itself saw its shares jump by over 10 per cent on its announcement, taking its market capitalisation to a staggering $41bn (£30.8bn) – I say staggering, because it has never previously had a drug approved, and the general consensus is that Covid-vaccines won’t necessarily be that lucrative for the companies developing them – profiting from a pandemic that has heaped misery on millions not being the greatest look.

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