SinoPharm: COVID-19 vaccine could be ready by end of 2020 – Global Times

Dhwani Mehta FXStreet

In an interview with China’s highly influential media outlet, Global Times, Liu Jingzhen, Chairman of China National Pharmaceutical Group (SinoPharm), said the results of phase I and II clinical trials of the coronavirus vaccine were very positive and without serious side effects.

Key quotes

"SinoPharm was approved at the end of June to begin international phase III clinical trials and [the vaccine] could be on the market by the end of the year."

“Phase III trials should be completed in about three months and are in the final stages of approval.”

"So far, it's going well. It is leading the world in research and development, clinical trials, manufacturing facilities, and vaccine efficacy, safety, and accessibility."

In the US, three vaccines were under research and development in the first half, including those from Moderna and Pfizer.

Other COVID-19 vaccines are also in development - including one at the University of Oxford in the UK - and have also entered clinical trials.

Market reaction

The risk sentiment remains tepid amid intensifying US-China tensions over the Houston consulate episode. This negates any optimism over the vaccine hopes and economic recovery so far this Thursday.

AUD/USD trades listless around 0.7135 while S&P 500 futures also lack a clear direction to trade above 3,250. Meanwhile, the Asian equities trade mostly lower, with Japanese markets closed on a long break.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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