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Takeda is working on a coronavirus drug

|About: Takeda Pharmaceutical Comp... (TAK)|By: , SA News Editor

With about 40 employees working on the project, Takeda Pharmaceutical (NYSE:TAK) is joining Gilead Sciences and AbbVie as the latest drugmaker to work on developing a coronavirus vaccine.

The experimental drug would be derived from the blood of coronavirus patients who have recovered from the respiratory disease.

"While we don't know for sure that it will work, we think it's definitely a relevant asset that could be of help here," said Dr. Rajeev Venkayya, president of Takeda's vaccines business.