AstraZeneca To Test Its COVID-19 Vaccine In Combination With Russia's Sputnik V

AstraZeneca Plc (NASDAQ: AZN) and Russia have agreed to test a combination of their vaccines, the Associated Press reported Tuesday.

What Happened: On Monday, the British drugmaker signed a memorandum of cooperation with Moscow-based research facility the Gamaleya Institute, the Russian Direct Investment Fund, and Russia-based pharmaceutical firm R-Pharm to study the combination, according to AP.

The suggestion to combine the two drugs was reportedly made by the developers of the Russian vaccine known as Sputnik V.

Russia’s President Vladimir Putin praised the cooperation between AstraZeneca and his country’s scientists and said it “will make it possible to achieve a breakthrough while working on vaccines and on a number of other vitally important medicines,” as per AP.

The trials will commence in “the nearest future,” revealed Kirill Dmitriev, head of the Russian Direct Investment Fund.

Why It Matters: Developers of the Russian vaccine proposed the combination of two vaccines, suggesting it could increase the efficacy of the AstraZeneca vaccine, AP noted.

Authorities in Russia reportedly began mass vaccinations with Sputnik V this month even as it undergoes advanced studies to gauge efficacy and safety.

The Russian vaccine’s developers claimed it was 91% effective based on observation of 78 infections among 23,000 participants.

Separately, AstraZeneca told Reuters it expected its COVID-19 vaccine candidate to prove effective against a new mutant COVID-19 strain spreading in the U.K.

Early analysis of advanced trials indicates that AstraZeneca’s vaccine — jointly developed with Oxford University — prevented 70% of inoculated participants from developing COVID-19. 

Pfizer Inc’s (NYSE: PFE) vaccine, developed in partnership with Germany’s BioNTech SE (NASDAQ: BNTX), and Moderna Inc’s (NASDAQ: MRNA) vaccine have shown over 90% efficacy against COVID-19.

Price Action: AstraZeneca shares closed nearly 1.9% lower at $48.73 on Tuesday and fell 0.27% in the after-hours session.