Why AstraZeneca's Stock Is Trading Higher Today

AstraZeneca plc AZN shares are trading higher on Wednesday after the company announced its collaboration with IQVIA to accelerate the development of a potential new vaccine for COVID-19.

AstraZeneca is a British-Swedish multinational pharmaceutical and biopharmaceutical company. In 2013, it moved its headquarters to Cambridge, U.K. The company sells branded drugs across several major therapeutic classes, including gastrointestinal, diabetes, cardiovascular, respiratory, cancer, and immunology.

AstraZeneca shares were trading up 7.54% at $58.05 at the time of publication on Wednesday. The stock has a 52-week high of $58.84 and a 52-week low of $36.15.