A new ray of hope “Pfizer Covid-19 Vaccine is 90% effective”
Corona Vaccine will be available by the 1 week of December.
BioNTech and Pfizer announced their Vaccine last stage clinical trial data and confirmed that the Vaccine is more than 90% effective. The announcement made worldwide news as soon as it is announced, and everyone is happy to hear the news. After all, some positive news in the development of fighting against the virus.
The drugmaker said they had conducted the test on 94 confirmed cases in trail patients after enrolling 43,538 participants in a more extensive study. The Vaccine required two doses.
Pfizer chairman and CEO Albert Bourla said, “we have reached a milestone in our vaccine development when the world needs most due to the continuous increase in covid cases”. With today’s news, we are getting one more step closer to providing people hope and ending the global health crises. Furthermore, they will be sharing safety data generated from thousands of participants in the upcoming weeks.
Pfizer and BioNtech can not apply immediately for emergency authorization from FDA (Food And Drug Administration). As per the guidelines, the company must share two months’ worth of safety data on the Vaccine.
The FDA guidelines set a minimum of 50% effectiveness for a vaccine to pass the approval test. Pfizer will easily pass the hurdle as it has more than 50% efficiency. Experts are waiting for the full report to analyze.
Few questions remain unanswered- Is there any severe or rare side effects, or it is yet to be discovered. How long will the Vaccine work answer these essential questions? Experts are waiting for the full report.
Pfizer shared, Vaccine must be stored at minus 94 degrees Fahrenheit that will lead to another challenge for logistics. The company must have to supply at least 20 to 30 million doses to vaccinate approx—10% of our population.
It is expected that high-risk groups such as Health workers and elder groups will get the Vaccine later this year, and general people must have to wait a bit more but indeed in 2021.
Under the previously announced 1.95 billion dollar deal by the U.S. government. The Company will mass-produce 100 million doses by the end of March 2021. And nothing will be charged from the patients. The first people will be vaccinated in December.
The stock market showed a positive result over the news:
As soon as positive news about the Vaccine rolls out on the internet, the U.S. stock market skyrocketed as investors loved the news and spread the ray of hope among all the industries. The future and options of the Dow Jones Industrial jumped by 1600+ points. Airline and Cruise companies stocks made a positive jump by 20 to 30 %—both the industry was adversely affected by the covid-19 situation worldwide.