Scientists warn of premature optimism as drugmakers rally

Singapore

THERE is big money to be made in producing a vaccine for Covid-19, and investors' interest in which pharmaceutical and biotech company will cross the finish line first is causing a global rally in these stocks.

But analysts and scientists warn that such hopes have also lifted the shares of smaller companies, the products of which are only in early stages of development, perhaps years away from getting to market. There is also no guarantee that these experimental drugs will pass clinical trials and obtain regulatory approval.