AstraZeneca Pharma hits fresh record high of Rs 4,489; stock surges 15%

The stock of the company was trading higher for the fifth straight day, surging 26 per cent during the period.

Continuing their northward movement, shares of Astrazeneca Pharma India hit a fresh record high of Rs 4,489, up 15 per cent on the BSE on Monday, in an otherwise range-bound market, amid expectation that the company’s candidate, AZD1222, could be viewed as a frontrunner in a global race to deliver an effective vaccine to combat the Covid-19 virus.

At 03:05 pm, the stock was trading 13 per cent higher at Rs 4,411 on the BSE. In comparison, the S&P BSE Sensex was trading 0.36 per cent lower at 38,218 points. The stock of the pharmaceutical company was trading higher for the fifth straight day, surging 26 per cent during the period.

According to a Reuters report, Australia expects to receive its first batches of a potential Covid-19 vaccine in January, Australian Prime Minister Scott Morrison said on Monday, as the number of new daily infections in the country’s virus hotspot fell to a 10-week low. CLICK HERE TO READ FULL REPORT

AstraZeneca Plc, the company's parent firm, is expected to release initial data on whether a vaccine can stop people from getting the virus on September 15. The drugmaker has pledged as many as 30 million doses to the UK by the end of the month.

Meanwhile, since August 18, 2020, the stock of Astrazeneca Pharma has gained 35 per cent, after the company received import and market permission in Form CT-20 (Marketing Authorization) from the Drugs Controller General of India for Olaparib Film-Coated tablets 100 mg and 150 mg - additional indication. CLICK HERE FOR RELEASE