Sanofi CEO Says COVID-19 Vaccine Development Process Accelerated, Not Side-Stepped

Sanofi SA SNY CEO Paul Hudson said Thursday that the drugmaker is following the standard process of vaccine development with its COVID-19 candidate.

What Happened: “We haven’t changed anything in the way we do things, we’ve just accelerated,” Hudson told CNBC’s Jim Cramer, adding that Sanofi has been making vaccines for over 100 years.

The Paris-based company's CEO added that the company knows what it is doing, and "moving at speed."

Hudson expects a Sanofi COVID-19 vaccine to be available sometime next year — should it prove to be safe and effective in ongoing human studies.

Why It Matters: Hudson’s comments come at a time when there is worry about political forces casting a shadow on the regulatory process concerning the vaccines.

“We feel pressure to get it right and maintain the standards," he told CNBC.

Nine drugmakers, including Sanofi, AstraZeneca plc AZN, Pfizer Inc PFE, and Moderna Inc MRNA pledged this month to commit to the safety and well-being of vaccinated individuals despite mounting political pressure.

Pfizer and Moderna's vaccines are said to be lead candidates for a U.S. emergency approval ahead of the November presidential election.

Novavax, Inc NVAX is the latest drugmaker to announce large-scale human testing of its COVID-19 Vaccine.

Price Action: Sanofi shares closed 0.36% higher at $50.79 on Thursday and gained almost 0.5% in the after-hours session.

Photo by Sanofi Pasteur on Flickr