The demand for pharmaceutical companies’ stocks has surged dramatically. AstraZeneca (LSE:AZN) shares have been no exception. Investor enthusiasm was fuelled by hopes of a new Covid-19 vaccine. But isn’t the AstraZeneca share price already too high?
Why did the AstraZeneca share price rally?
On Monday, the pharma giant resumed phase 3 vaccine trials. As we all know, the company’s stock has been surging in recent months. That’s because people expect AstraZeneca to develop a Covid-19 vaccine. But is the future so bright for AstraZeneca and its vaccine?
Quite recently the FDA said AstraZeneca’s coronavirus vaccine trial in the US is still pending. That’s because the FDA is unsure if there is a big safety issue or not. So, many questions remain. Phase 3 vaccine trials don’t mean the vaccine will be available tomorrow. What’s more, the FDA’s investigation also suggests there are still many regulatory hurdles. That’s why the AstraZeneca … Read more