Pfizer surges 5% on emergency UK approval for COVID-19 vaccine
Dado Ruvic/Reuters
- Pfizer surged as much as 5% on Tuesday after the UK became the first country in the world to grant emergency use authorization for its COVID-19 vaccine.
- BioNTech, who in partnership with Pfizer developed the vaccine, surged as much as 7% in Tuesday trades.
- Nearly 1 million vaccine doses will be made available at hospitals and vaccination centers across the UK next week, with 40 million more doses expected to be shipped to the country.
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The UK became the first country in the world on Tuesday to grant emergency use authorization to Pfizer and BioNTech's COVID-19 vaccine.
The vaccine, which demonstrated an efficacy rate of 95% in preventing COVID-19 among patients, will be made available to the country next week for a rollout to hospitals and vaccination centers across the country.
Pfizer surged as much as 5% in Tuesday trades, while BioNTech, which partnered with Pfizer to develop the vaccine, surged as much as 7%.
The first 800,000 vaccine doses will be made available next week, with 40 million total doses to be delivered to the country throughout 2020 and 2021.
The vaccine will be given in two doses, administered 3 weeks apart. Access to the vaccine will first be granted to frontline healthcare workers and nursing home residents, followed by older adults.
Pfizer CEO Albert Bourla called the UK decision "a historic moment" and said it's "focused on moving with the same level of urgency to safely supply a high-quality vaccine around the world."
The US FDA should not be too far behind the UK in granting emergency use authorization for Pfizer's vaccine, with a decision expected by the FDA late next week.
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