AstraZeneca is considering a possible listing of its newly formed vaccine division as it looks for ways to boost its returns for investors, according to Bloomberg, citing insiders.
The British pharmaceutical giant is in the early stages of testing for the best possible placement of the new vaccine unit, they said.
Top management has discussed a number of options with consultants, including listing the company, they said.
AstraZeneca announced last month that it was setting up a new vaccine and immunotherapy unit to house the Covid-19 vaccine and antibody treatment, as well as a flu vaccine and a drug for respiratory syncytial virus.
The department, led by Iskra Reic, will include teams from AstraZeneca’s research, production and marketing departments.
At the start of the pandemic, AstraZeneca vowed not to make a profit from its vaccine while the coronavirus remained a pandemic. The company said in November that it would seek to make a profit only from the richest nations and would rely on staggered pricing to ensure its vaccine was affordable.
AstraZeneca CEO Pascal Soriot is under pressure from shareholders as the company’s share performance lags behind competitors. In particular, the company’s share has risen 6% in the last twelve months, while the shares of Pfizer Moderna have strengthened by 35% and 90% respectively.
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Source From: Capital
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