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AstraZeneca says it won’t profit from Covid-19 vaccine

AstraZeneca a Pharmaceutical company assures that they don’t want any profit from the Covid-19 vaccine during this pandemic. These promises help in boosting the Sales across its range of treatments during the lockdown.

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During this lockdown, sales are increased by 14 percent to 9,44,08,52,40,000.00 Indian Rupee in the first six months of this lockdown. This amount is now helping in trading new medicines for cancer and respiratory problem.

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What does CEO Pascal Soriot say?

Despite the good earnings, CEO Pascal Soriot said he remained cautious among the doubtful condition of the pandemic.

He also said that the company is in a way to produce 2 billion doses of the vaccine at a very low cost. This also includes three more deals for the distribution of the vaccine.

“We fell that, Now this is a time for companies to step up and make a move and contribute,” he said, adding that a vaccine needed to be provided to all the people as much as possible.

“This is first the time in history when humanity, humankind is threatened as a whole,” he said.

The cost of making the vaccine, which is developed by Oxford University, is expected to be set by the funding from the governments.

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AstraZeneca is struck with several deals around the world to supply the experimental COVID-19 vaccine, which has shown promise in early testing.

He also states that It has also extended a licensing agreement with the Serum Institute of India (SII) to supply countries. It also has agreements with R-Pharm in Russia. And also with SK Biopharmaceuticals Co., Ltd in the Republic of Korea “to manufacture and export for other global markets. ” These deals cover almost 700 million doses.

The Anglo-Swedish company has recently complete agreements with these following countries

  • United States
  • Britain
  • The European Union
  • the Union for Epidemic Preparedness Innovations.

A public-private-charitable partnership based in Norway, and Gavi, the Vaccine Alliance, another public-private partnership headquartered in Geneva.

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