Pfizer shares surge nearly 4% on vaccine report

Shares of Pfizer Ltd rose nearly 4 per cent in early trade on Thursday after Pfizer Inc announced that the Covid-19 vaccine developed in partnership with BioNTech was found 95 per cent effective in the final analysis of the Phase 3 trial.

The stock surged by 3.83 per cent to Rs 5,098 on the BSE.

Similarly, on NSE, shares of Pfizer Ltd rose by 3.85 per cent to Rs 5,096.20.

Global drugmakers Pfizer and BioNTech said on Wednesday that their COVID-19 vaccine was found 95 per cent effective in the final analysis of the Phase 3 trial, including in people aged over 65 years, paving the way for the companies to apply for emergency authorisation from US regulators within days.

Further, Pfizer and BioNTech said they have concluded a phase 3 study of their mRNA-based COVID-19 vaccine candidate BNT162b2, meeting all primary efficacy endpoints.

Based on current projections, the companies expect to produce globally up to 50 million vaccine doses in 2020 and up to 1.3 billion doses by the end of 2021.