Stock Alert: British American Tobacco Trading Higher

(RTTNews) - Shares of cigarettes and other tobacco products maker British American Tobacco p.l.c. (BTI) are climbing more than 4% Wednesday morning.

The company said today its biotech unit, Kentucky BioProcessing (KBP) is developing a potential vaccine for Covid-19 using the company's proprietary tobacco plant technology, which has several advantages over conventional vaccine production technology.

British American Tobacco expects that with the right partners and support from government agencies it can make 1-3 million doses of the vaccine per week, which is in pre-clinical testing.

BTI is currently trading at $35.66. It has traded in the range of 27.32- $45.64 in the past one year.