AstraZeneca Plc received more than $1 billion in U.S. government funding for an experimental Covid-19 vaccine from the University of Oxford, a boost to one of the world’s fastest-moving projects to develop a shot.
The investment accelerates a race to secure vaccine supplies, seen as a key step toward restarting global economies after a lockdown-induced slump. Stock markets have been rising and falling on developments in research labs as investors weigh the prospects.
The U.K. drugmaker received the money from the U.S. Biomedical Advanced Research and Development Authority and said it has secured capacity to make 1 billion doses. Although
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