Monkeypox spreads in Canada: 5 vaccine stocks to keep on your radar

Highlights

• Cases of monkeypox are increasingly being reported across the world, including Canada. 
• Healthcare stocks, particularly the vaccine makers, are again in the spotlight as monkeypox.
• SIGA Technologies’ IV product has reportedly been highlighted to be used for monkeypox treatment by the CDC.

Healthcare stocks, particularly vaccine makers, are back in the spotlight as cases of monkeypox are increasingly being reported across the world, including Canada. 

Public Health Agency of Canada (PHAC) reported a total of 26 confirmed cases of monkeypox in the country on Thursday, May 26. Apart from Quebec, Ontario too has reported its first case of the disease, as per PHAC.

Montreal public health has been examining oral and genital ulceration cases since May 12 to find a clue to monkeypox. The nation's health authorities said that close and prolonged contact is needed for monkeypox to spread, due to which, the risk of transmission is said to be comparatively lower than COVID-19.

According to the Centres for Disease Control and Prevention (CDC), monkeypox originated from the same family of viruses as variola that causes smallpox. Experts believe that smallpox vaccines can potentially protect against the monkeypox virus. Historical records from Africa also suggest that the smallpox vaccine can be at least 85 per cent effective against monkeypox.

Let us discuss five vaccine stocks to watch amid surging monkeypox cases in Canada.