Here is why BionTech (BNTX) and Pfizer (PFE) shares are skyrocketing on Monday – Idaho Reporter

Healthcare

Here is why BionTech (BNTX) and Pfizer (PFE) shares are skyrocketing on Monday

A huge breakthrough in the fight against the COVID pandemic seems to be rolling on the horizon. BioNTech (BNTX) and Pfizer (PFE) have announced that the long-awaited corona vaccine is 90 percent effective.

Experts had assumed a significantly lower effectiveness. The BioNTech share reacted with a plus of 25 percent during pre-market session while PFE stock is up almost 15% pre-market on Monday.

 

These 2 companies have a huge,$1.95 billion contract with the U.S. government to deliver 100 million vaccine doses beginning this year. Besides the U.S. ,European Union, the United Kingdom, Canada and Japan also signed separate agreements with Pfizer and BionTech.

We estimate that a median of two months of safety data following the second and final dose of the vaccine candidate – required by FDA’s guidance for potential Emergency Use Authorization – will be available by the third week of November.

Albert Bourla, CEO of Pfizer

Pfizer said it expects to produce up to 1.3 billion doses of the vaccine in 2021.

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