Shares New York Outlook: Profits – Corona vaccine approval possible soon

NEW YORK (dpa-AFX) – After the setback on Friday, the hope of a vaccine against the lung disease Covid-19 that will soon be ready for use should drive the US stock markets up again at the beginning of the week. A little more than an hour before the start of trading on Thursday, broker IG valued the US leading index Dow Jones Industrial on Monday 0.62 percent higher to 29,444 points. The focus is likely to be on the stocks of companies involved in Covid 19 vaccines and treatments.

According to a government official, the corona vaccine developed by Biontech and Pfizer could be available in the USA from December 11th in the event of an emergency approval. The vaccine could be delivered to the states within 24 hours of approval from the US FDA, a representative responsible for the US government’s vaccination program told CNN. Biontech shares rose 4.8 percent in pre-trading hours and Pfizer shares rose 1.2 percent.

With the British-Swedish pharmaceutical company Astrazeneca, another company also presented positive data on a corona vaccine on Monday. The vaccine has an average effectiveness of 70 percent against Covid-19, the company announced on the basis of interim results from an important test phase.

Axi analyst Stephen Innes called the news from Astrazeneca a “big deal”. This would likely put the industrialized countries in a position to immunize most risk groups against the lung disease by spring 2021.

Curevac papers rose by 3.2 percent in the pre-market period after the biotech company signed a contract with Wacker Chemie to produce a vaccine candidate against Covid-19.

Regeneron’s shares rose 3.1 percent on the Nasdaq. The company’s antibody cocktail for the treatment of Covid-19 received emergency approval in the United States. This means that the cocktail with two antibodies can be used to treat patients aged twelve and over who are at risk of developing severe Covid-19 symptoms./bek/mis

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