Pfizer/BioNTech’s COVID-19 vaccine is effective in more than 90% of cases
The protective effect of the vaccine will probably last for at least one year.
Pfizer and BioNTech plan to deliver 50 million doses worldwide by 2020.
In a statement on Monday, Pfizer Inc. (NYSE: PFE) and BioNTech SE (NASDAQ: BNTX) stated that their jointly developed COVID 19 vaccine is effective in more than 90% of patients. The two drug companies are the first to publish successful study data, bringing the world one step closer to victory in the fight against the coronavirus pandemic, which has so far infected more than 50 million people worldwide and caused over 1.2 million deaths.
Pfizer registers at the stock exchange in the past yearly process still a minus of 7%. But the shares of the enterprise recovered since its past yearly low in March, when the effects of the COVID 19 crisis had reached their high point, by nearly 25%. At the time of writing this article, Pfizer is valued at £153.56 billion and has a price-earnings ratio of 23.56.
The protective effect of the vaccine is expected to last for at least one year.
CEO Ugur Sahin of BioNTech also said on Monday that the vaccine candidate COVID-19 is expected to maintain its protective effect in patients for at least one year. Earlier results, combined with research in patients recovering from the novel influenza-like virus, have increased confidence that the protective effect is unlikely to be short-lived.
According to Pfizer’s Chief Executive Officer, Albert Bourla, it is unlikely that the protective effect will be short-lived:
“The first set of results from our Phase 3 vaccine study on COVID-19 provides the first evidence of our vaccine’s ability to prevent COVID-19. We are a significant step closer to providing people around the world with the much needed breakthrough to end this global health crisis. We are reaching this critical milestone in our vaccine development program at a time when the world needs it most”.
Pfizer and BioNTech plan to deliver 50 million doses worldwide by 2020
Monday’s announcement also highlighted that COVID-19 patients developed protection within 4 weeks of the first dose and one week after the second dose. Regarding the supply projections, Pfizer and BioNTech were confident that up to 50 million doses will be delivered worldwide in 2020, with 1.3 billion doses of vaccine predicted for 2021.
The news came just one week after Pfizer released better than expected results for its third financial quarter.
BioNTech has gained almost a massive 140% on the stock market this year. It debuted on the Nasdaq last year in October at a price of £10.50 per share. At the time of writing this article, the German biotechnology company has a market capitalization of £16.63 billion.