Moderna Covid-19 vaccine to get UK approval as soon as Friday

By: |
January 08, 2021 5:38 PM

Prime Minister Boris Johnson has pinned his hopes for a national recovery on a plan to deliver 2 million coronavirus vaccinations a week, after the U.K. went back into lockdown in an attempt to prevent hospitals being overwhelmed.

Moderna shares rose 1.7% in premarket U.S. trading.Moderna shares rose 1.7% in premarket U.S. trading.

The U.K. is poised to approve Moderna Inc.’s Covid-19 vaccine and an announcement could come as soon as Friday, according to people familiar with the situation.

The U.S. company’s shot would be the third vaccine to get the green light for use in the U.K. as the country ramps up immunizations against the fast-spreading coronavirus and the infection rate soars. The Covid death toll now stands at more than 78,000 across Britain.

The U.K. has ordered 7 million doses of the vaccine, but they were not expected to be delivered until later this year. AstraZeneca Plc and the University of Oxford’s Covid-19 shots won U.K. clearance late last month. That followed authorization of another vaccine, from Pfizer Inc. and BioNTech SE, in early December. The European Union and the U.S. have also cleared the Moderna product.

Moderna shares rose 1.7% in premarket U.S. trading.

Prime Minister Boris Johnson has pinned his hopes for a national recovery on a plan to deliver 2 million coronavirus vaccinations a week, after the U.K. went back into lockdown in an attempt to prevent hospitals being overwhelmed.

Johnson has set a target of vaccinating the 15 million most vulnerable people and carers by Feb. 15. That requires a massive increase in the rollout of the injections and the government is deployed the military to help speed up the process. So far around 1.5 million people have received at least one shot across the country.

If the most vulnerable groups have been given some protection by the middle of February, Johnson has said the government will be able to consider lifting some of the lockdown restrictions that threaten to push the U.K. economy into a double-dip recession.

Ministers have piled up government debt in an effort to support struggling businesses and will continue to pay the wages of workers whose jobs have been furloughed through April.

The U.K. was the first western country to approve a coronavirus vaccine and is ahead of its European neighbors on rolling out immunizations. For Johnson, a successful vaccination drive is a chance at redemption after months of criticism from all sides over missteps and policy reversals in his administration’s handling of the pandemic.

News of the U.K. plan to endorse the Moderna vaccine came as the European Union on Friday secured as many as 300 million more doses of the Pfizer-BioNTech shot, potentially doubling its supply.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Delhi, Karnataka, Andhra Pradesh, Telangana too go for global tender for COVID vaccine procurement as states face acute shortage
2Second Covid wave seems to have flattened but won’t end before July: Virologist Shahid Jameel
3Direct supply of Covaxin to 18 states since May 1: Bharat Biotech