AstraZeneca Pharma plunges over 13% on covid vaccine study pause1 min read . Updated: 09 Sep 2020, 01:56 PM IST
- On the BSE, the Astrazeneca stock tanks 13.40% to Rs3,650; and on the NSE, 12.31% to Rs3,710
- AstraZeneca Plc has paused late-stage trials of its COVID-19 vaccine candidate developed with the University of Oxford
NEW DELHI : Shares of Astrazeneca Pharma India Ltd on Wednesday tumbled more than 13% after its parent firm announced pausing COVID-19 vaccine trials globally due to an unexplained illness in a study participant.
On the BSE, the Astrazeneca stock fell 13.40% to Rs3,650; and on the NSE, it tanked 12.31% to Rs3,710.
Late on Tuesday, AstraZeneca Plc said it was pausing late-stage trials of its COVID-19 vaccine candidate developed with the University of Oxford.
According to a New York Times report, a participant based in the United Kingdom was found to have transverse myelitis, an inflammatory syndrome that affects the spinal cord and is often sparked by viral infections.
The COVID-19 vaccine was widely seen as one of the leading vaccine candidates against the novel coronavirus.
By 1:35 pm, shares of Astrazeneca Pharma India Ltd were trading at Rs3,956.90 apiece, down 6.12%, on the BSE; and at Rs3,945.90 apiece, 6.74% lower, on the NSE.
Tracking a deepening sell-off on global stock markets, the Indian shares also fell on Wednesday.
The BSE Sensex index was trading at 38,161.37, down 0.53%; and the Nifty 50 index, 0.56% lower, at 11,254.50.
The British drugmaker is working to expedite the review of the single event to minimise any potential impact on the trial timeline.
AstraZeneca’s COVID-19 vaccine-- AZD1222--uses an adenovirus that carries a gene for one of the proteins in SARS-CoV-2, the virus which causes COVID-19. The adenovirus is designed to induce the immune system for a protective response against SARS-CoV-2.