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Despite the lowering of global stocks and oil prices, 3 pharmaceutical companies are seeing a growth in their stock prices as the virus further spreads.   

Shares of companies; Moderna Inc., Novavax Inc and Inovio Pharmaceuticals have seen an increment of 8%, 22%, and 55% respectively.   

The Coalition for Epidemic Preparedness Innovations also known as CEPI has announced that a total of $11 million will be provided as funding to these 3 companies to develop new vaccines against the Wuhan virus.   

Currently, there are no vaccines against the virus that has since then killed 81 people and have infected over 2,700 people worldwide, heightening fears of a global outbreak.   

(Source: Markets Insider, 2020)