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Anand Mahindra upbeat about market revival over Fauci's coronavirus vaccine assurance

Appearing before a House panel on Saturday, Anthony Fauci expressed "cautious optimism" that a vaccine would be available by next year

twitter-logoBusinessToday.In | August 2, 2020 | Updated 16:35 IST
Anand Mahindra upbeat about market revival over Fauci's coronavirus vaccine assurance
File photo of Anand Mahindra

Business tycoon Anand Mahindra on Sunday expressed optimism over turbulence in global financial markets after top infectious disease specialist and senior adviser to U.S. President Donald Trump Dr. Anthony Fauci hinted that a coronavirus vaccine could be ready by the end of this year or early next year.

The chairman of Mahindra Group in a tweet wrote, "In today's world, this one man's statements (Fauci) could affect global financial markets more strongly than the words of any political leader or central bank governor. Let us see now markets respond this coming week".

Appearing before a House panel on Saturday, Fauci expressed "cautious optimism" that a vaccine would be available by next year.

"I believe, ultimately, over a period of time in 2021, that Americans will be able to get it," Fauci said, referring to the vaccine.

Under direction from the White House, federal health authorities are carrying out a plan dubbed Operation Warp Speed to manufacture 300 million doses of the vaccine on a compressed timeline.

Fauci, the nation's top infectious disease official, said a quarter-million people have expressed interest in taking part in studies of experimental vaccines for the coronavirus. Fauci added that 250,000 people have registered on a government website to take part in vaccine trials.

Meanwhile, US biotech firm Moderna and pharmaceutical giant Pfizer have launched late-stage trials of the coronavirus vaccine. The US government is funding vaccine development for both companies. Moderna has received nearly $1 billion from the federal government for the same. Pfizer has an agreement with the US government whereby the government will pay the pharma company around $2 billion for delivery of 10 crore vaccine shots by December if approved by the Food and Drug Administration.

Also read: Coronavirus vaccine update: Russia's COVID-19 vaccine set for mass rollout in October; check details

Also read: Coronavirus vaccine will be ready by early 2021: Dr Anthony Fauci

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