AstraZeneca vaccine data is unlikely to cost the company much, at least in the short term. Wall Street should pay close attention anyway.
U.S. officials said they were told AstraZeneca may have released obsolete information about test results for the Covid-19 vaccine, a surprise revelation that immediately called into question the company’s claim a day earlier. that the results showed that the shot was very effective. AstraZeneca said in response that it would share a new analysis of the data within 48 hours.
This situation is very unusual, but investors can find reasons not to worry: it will not affect the company’s finances in the short term. The AstraZeneca Covid-19 vaccine has been widely used in places like the UK and Dr Anthony Fauci said on Tuesday that the vaccine is still safe and effective. Vaccine sales are not included in the company’s full year financial guidance.
These motives make some sense, but they are ultimately short-sighted. The data that can be trusted are the backbone of the pharmaceutical business; physicians, regulators, and the general public must be able to trust that the clinical results are valid for selling, approving, or taking medication. Concerns about data integrity are rare, even for small biotechnologies. In the modern era, any problem on this front around a giant like AstraZeneca is unthinkable and is especially troubling during a global pandemic.
Doubts about integrity are difficult to dispel once sown. And a good working relationship with U.S. drug regulators is essential even for overseas companies, as it is by far the most lucrative pharmaceutical market in the world. A slower drug approval process, almost given by AstraZeneca in the future, makes it harder to compete with rivals that develop other drugs.