Roundtable Discussion; The Future of Mineral Sands. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksAstrazeneca Share News (AZN)

Share Price Information for Astrazeneca (AZN)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 12,156.00
Bid: 12,124.00
Ask: 12,128.00
Change: -14.00 (-0.12%)
Spread: 4.00 (0.033%)
Open: 12,114.00
High: 12,258.00
Low: 12,114.00
Prev. Close: 12,170.00
AZN Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

COVAX vaccine supply outstrips demand for the first time

Wed, 23rd Feb 2022 06:00

BRUSSELS/LONDON, Feb 23 (Reuters) - The global project to share COVID-19 vaccines is struggling to place more than 300 million doses in the latest sign the problem with vaccinating the world is now more about demand than supply.

Last year, wealthy nations snapped most of the available shots to inoculate their own citizens first, meaning less than a third of people in low-income countries have been vaccinated so far compared with more than 70% in richer nations.

As supply and donations have ramped up, however, poorer nations are facing hurdles such as gaps in cold-chain shortage, vaccine hesitancy and a lack of money to support distribution networks, public health officials told Reuters.

In January, COVAX, the global vaccine programme run by Gavi and the World Health Organization (WHO), had 436 million vaccines to allocate to countries, according to a document published in mid-February.

But low-income nations only asked for 100 million doses for distribution by the end of May - the first time in 14 allocation rounds that supply has outstripped demand, the document from the COVAX Independent Allocation of Vaccines Group said.

Asked to comment, a Gavi spokesperson said COVAX was now in a situation where there was enough current supply to meet demand, but acknowledged that the roll-out of vaccines was an issue in several less developed nations.

"We will only close the vaccine equity gap once and for all if we are able to help countries roll out vaccines rapidly and at scale," the spokesperson said.

Vaccines that are not assigned by COVAX in this round can be allocated again later.

While wealthy countries are opening up their economies, the WHO and other public health experts warn that the slow roll-out of vaccines in poorer regions will give the coronavirus a chance to mutate again and potentially create new variants.

FRIDGES AND FREEZERS

The low demand for vaccines in the January allocation is partly explained by recent increases in supplies. COVAX has already assigned tens of millions of doses to be delivered in the first quarter and delivered its billionth dose in January.

Officials involved in vaccine distribution said that meant countries were reluctant to take on more doses that they would not be able to use.

A summit to address distribution challenges is taking place on Wednesday in Abuja, Nigeria, convened by the African Union's Africa Vaccine Delivery Alliance with WHO, Gavi and others rolling out shots across Africa attending.

There had been hopes that African countries would be able to administer billions of doses of COVID-19 vaccines given their experience in dealing with deadly diseases from Ebola to malaria.

But two years into the crisis, a survey seen by Reuters by the United Nations Children's Fund (UNICEF) in January on the equipment needed to ramp up vaccine distribution highlighted some of the challenges.

It found "critical gaps" across 44 of the African Union's 55 member states: 24 countries said they needed fridges, 18 were in need of deep freezers, 22 required walk-in freezers and 16 did not have sufficient walk-in cold rooms.

A UNICEF spokesperson said more than 800 ultra-cold chain freezers had already been delivered to nearly 70 countries, as well as 52,000 fridges.

"We are continuing to help countries identify and close cold chain capacity gaps as supply increases and governments adjust national-level vaccination targets in response," she said.

DISINFORMATION AND FUNDING

The problem is particularly acute for COVAX because the Pfizer-BioNTech shot that needs to be kept super-cold has replaced AstraZeneca's vaccine as the main one being offered by the global programme.

Some African countries, such as Burundi and Guinea, have gaps at every point in the cold chain, from national level to local distribution centres, the UNICEF survey showed.

The findings are likely to underscore growing concerns that COVAX did not invest quickly enough in infrastructure and equipment for countries it was delivering vaccines to.

The issue is exacerbated by a lack of funding and because countries have not had enough notice of deliveries - particularly donations - making it harder for them to plan vaccination campaigns, public health officials have said.

Officials involved in the distribution of vaccines in Africa also said more focus needed to be placed on communicating the importance of getting vaccinated - and addressing disinformation.

"Communication is one of the biggest issues ... if we don't get the messaging right, everything else we are doing is futile," one of the officials said, speaking on condition of anonymity.

Money has also started to dry up for global initiatives as richer nations seek to move on from COVID.

Gavi says it has only raised $195 million out of the $5.2 billion it has asked for this quarter. The money is used to procure and ship vaccines, as well as provide syringes and delivery support in countries. (Reporting by Jennifer Rigby and Francesco Guarascio; Editing by Josephine Mason and David Clarke)

More News
Today 10:04

AstraZeneca notes positive trial results for Calquence treatment

(Alliance News) - AstraZeneca PLC on Thursday said it observed positive high-level results in the Echo phase 3 trial of its Calquence treatment for previously untreated adult patients with mantle cell lymphoma.

Read more
Today 07:45

AstraZeneca reports positive results from blood cancer drug trial

(Sharecast News) - AstraZeneca has reported positive results from the use of its Calquence drug in a clinical trial to treat a rare type of blood cancer.

Read more
29 Apr 2024 22:52

J&J, Bristol Myers lose challenges to US drug price negotiation program

April 29 (Reuters) - A U.S. judge on Monday rejected a challenge by Bristol Myers Squibb and Johnson & Johnson to a law requiring them to negotiate the prices of their blockbuster blood clot prevention drugs with the U.S government's Medicare health insurance program or pay heavy penalties.

Read more
29 Apr 2024 10:02

LONDON BROKER RATINGS: Deutsche Bank likes Frasers; Barclays cuts JD

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

Read more
29 Apr 2024 09:13

AstraZeneca makes progress with Truqap and Enhertu cancer treatments

(Alliance News) - AstraZeneca PLC on Monday said its Truqap drug has been recommended for approval in the EU to treat a form of breast cancer, while also noting trial results for its Enhertu offering.

Read more
29 Apr 2024 07:50

LONDON BRIEFING: Hipgnosis Songs Fund backs new Blackstone bid

(Alliance News) - London's FTSE 100 is called to open higher on Monday, with heady gains for US tech stocks on Friday brightening the mood in Europe and Asia at the start of the new week.

Read more
29 Apr 2024 07:24

AstraZeneca makes progress with two breast cancer treatments

(Sharecast News) - AstraZeneca issued favourable updates on two of its breast cancer treatments on Monday - 'Truqap', or capivasertib, and 'Enhertu', or trastuzumab deruxtecan - following encouraging results from respective phase three trials.

Read more
26 Apr 2024 09:33

LONDON BROKER RATINGS: Peel Hunt cuts ConvaTec to 'reduce'

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning:

Read more
25 Apr 2024 16:57

LONDON MARKET CLOSE: FTSE 100 shakes off red-hot US inflation gauge

(Alliance News) - London's FTSE 100 outperformed on Thursday, enjoying a solid rise on largely well-received corporate earnings and a share price jump for miner Anglo American after it received a takeover bid from peer BHP.

Read more
25 Apr 2024 15:14

London close: Stocks finish mixed as US GDP growth slows

(Sharecast News) - London's stock markets finished with a mixed performance on Thursday, as investors digested a slower-than-expected GDP growth reading from the United States, while a slew of well-received earnings underpinned the top-flight index.

Read more
25 Apr 2024 11:50

LONDON MARKET MIDDAY: FTSE 100 hits high on offer for Anglo American

(Alliance News) - The FTSE 100 was outperforming European markets at midday on Thursday, with the index boosted to a record high thanks to takeover talks.

Read more
25 Apr 2024 10:33

AstraZeneca leaps after smashing first-quarter forecasts

Q1 revenue up 19% to $12.68 bln

*

Read more
25 Apr 2024 09:18

TOP NEWS: AstraZeneca upbeat as cancer drugs underpin sales growth

(Alliance News) - AstraZeneca PLC on Thursday hailed the potential of its drugs pipeline as it delivered impressive growth in sales and profit in the first quarter.

Read more
25 Apr 2024 09:12

LONDON MARKET OPEN: Anglo American jumps on takeover bid from BHP

(Alliance News) - Stock prices in London opened mixed on Thursday, as investors cautiously eye data on the health of the US economy.

Read more
25 Apr 2024 08:38

AstraZeneca blows past analysts' estimates for Q1

(Sharecast News) - AstraZeneca posted better-than-expected revenues and profit for the first quarter of 2024 with both the company and analysts highlighting its drug pipeline.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.