AstraZeneca Plc received more than $1 billion in US funding to develop a Covid-19 vaccine from the University of Oxford and said it has supply agreements for 400 million doses.
The UK drugmaker received the money from the US Biomedical Advanced Research and Development Authority and has secured capacity to make one billion doses, according to a statement from the Cambridge, England-based company. A successful vaccine is seen as a key step toward getting global economies moving again after a lockdown-induced slump.
Drugmakers around the world are looking for manufacturing capacity for vaccines needed to quickly combat the pandemic. The Oxford vaccine is one of the world’s fastest-moving, and AstraZeneca has said it expects to have doses ready as soon as September.
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