Wall Street banking on a COVID-19 vaccine before US election

Wall Street predicts the White House will push through approval of one or maybe even two Covid-19 vaccines to help bolster Donald Trump’s chances before the U.S. presidential election.

While scientists, including the nation’s top virus expert Anthony Fauci, have set their eyes on a vaccine by early 2021 at the earliest, sell-side research analysts have been bringing in experts to weigh in on the possibility of a shorter timeline – ahead of the Nov. 3 vote.

That date is increasingly important as Democratic challenger Joe Biden gains steam, with more Americans scrutinizing the Trump administration’s handling of both the pandemic and the nation’s divisive racial inequities.

There were 13 experimental coronavirus vaccines being tested in humans and more than 120 others in earlier stages of development, according to the World Health Organization’s latest count, although new trials are moving forward at record speed. Biotechnology and pharmaceutical companies including AstraZeneca Plc and Moderna Inc. have been ramping up production and promising supplies of millions of doses of their still experimental vaccines before the year ends.

“All the datapoints we’ve collected make me think we’re going to get a vaccine prior to the election,” Jared Holz, a health-care strategist with Jefferies, said in a phone interview. The current administration is “incredibly incentivized to approve at least one of these vaccines before Nov. 3.”

Holz is not alone in that view. Raymond James policy analysts wrote in a client note that “the Trump White House is putting tremendous pressure on the FDA to approve an emergency use authorization (EUA) for a vaccine prior to the election.”

Source: Al jazeera