By Yasin Ebrahim
Investing.com - AstraZeneca moved off session lows Thursday after the European Medical Agency's safety committee found the company's vaccine to be “safe and effective in preventing Covid-19," and encouraged countries to continue vaccinations.
AstraZeneca PLC ADR (NASDAQ:AZN) dipped 0.57%, to $49.79.
The EU health watchdog said the benefits of using AstraZeneca's vaccine outweigh the potential risks, and recommended that countries proceed with vaccinations. The eagerly anticipated vaccine comes after many European countries including France and economic powerhouse Germany suspended the roll out of the vaccine after reports that people who received had developed blood clots some of which led to fatal outcomes.
The UK's Medicines and Healthcare products Regulatory Agency, meanwhile, also provided a positive update on the vaccine. Following a "rigorous scientific review," the UK regulator said all the available data does not suggest that cerebral sinus vein thrombosis - blood clots in the vein - is caused by the vaccine.
Among the 11 million people who have received the vaccine in the UK, five people are reported to have experienced cerebral sinus vein thrombosis that led to one death.
The positive news on the vaccine front comes just as the reopening gathers pace. The White House is looking to relax restrictions on travel across the borders with Mexico and Canada and on inbound international travel from the U.K., Europe and Brazil, toward the middle of May, CNBC reported, citing two sources familiar with the matter.