Benzinga | Mar 14, 2021 11:35AM EDT

WHO Grants Emergency Approval For AstraZeneca/Oxford COVID-19 Vaccine

* The World Health Organization (WHO) listed two versions of the AstraZeneca Plc (NASDAQ: AZN) and Oxford University's COVID-19 vaccine for emergency use, thus widening the access to the shot in the developing countries and boost global supplies in the coming weeks.

* The newly approved vaccines are produced by AstraZeneca-SKBio in South Korea and the Serum Institute of India.

* WHO said the vaccines are safe for those above 18 years old, including those over 65, and will be distributed through the organization's COVAX vaccine-sharing initiative targeting mid- and low-income countries. It also recommended using the vaccine in countries where new variants, including the South African B1.351 variant, are prevalent.

* AZN notes that it expects to make 300 million doses of the vaccine available to 145 countries by the first half of 2021.

* The listing allows two doses with an interval of around 8 to 12 weeks to all adults and can be used in countries with the South African variant of the coronavirus.

* AstraZeneca's COVID-19 vaccine can be stored, transported, and handled at normal refrigerated conditions for at least six months and administered within existing healthcare settings.

* Earlier this month, AstraZeneca said that it is working on a new version of its COVID-19 vaccine for immunity against the South African variant after a small early data suggested that AZN's jab has limited protection against mild disease caused by the variant.

* Additionally, AZN recruited Germany's IDT Biologika as a contract manufacturer of its COVID-19 vaccine to accelerate the finished COVID-19 vaccine output in the second quarter of 2021.

* Price Action: AZN shares are down 1.18% at $51.08 in the premarket session on the last check Tuesday.