University of Queensland (UQ) in collaboration with pharmaceutical giant CSL Ltd (ASX:CSL), are developing Covid-19 vaccine and according to Greg Hunt, the Federal Health Minister, the vaccine should be ready for distribution in mid-2021. He shared that the vaccine development process is keeping ahead of its scheduled time.
The minister, while speaking at UQ, informed that so far, the vaccine has been proving to be reliable and is creating a positive antibody response.
He also elaborated that CSL has finished the manufacturing of the vaccine for Phase 3 clinical trials. The trials shall start once the regulatory approval is granted.
It should be noted that the Federal Government has recently signed an agreement with CSL to obtain 51 million doses of the vaccine.
Meanwhile, the CSL stock was trading at $308.455 with a market capitalisation of $140.39 billion at 1:48 PM AEDT.