ASX 200 expected to drop lower amid COVID-19 vaccine concerns

The S&P/ASX 200 Index (ASX: XJO) is expected to drop lower this morning, with SPI futures currently pointing to a 0.3% decline at the open.

This decline appears to have been driven by concerns over the AstraZeneca-Oxford University COVID-19 vaccine candidate, AZD1222.

What has happened?

Last week AstraZeneca revealed that its phase three trial data showed that its vaccine candidate was highly effective against COVID-19 with certain dosages.

The data showed that when trial participants were given a half dose, followed by a full dose at least one month apart, the vaccine was 90% effective. Whereas, when given as two full doses at least one month apart, the vaccine showed just 62% efficacy.

Overnight, the pharmaceutical giant…