Dow rallies more than 5% to a record high as Pfizer says Covid-19 vaccine is more than 90% effective
Stocks rallied to record levels on Monday as investors cheered trial data from drugmakers Pfizer and BioNTech indicating their Covid-19 vaccine is more than 90% effective.
The announcement was seen on Wall Street as a sign that the pharmaceutical industry may soon have a viable way to control a disease that has derailed the U.S. economy for much of 2020 and has killed more than 230,000 Americans.
The 90% effective rate from Pfizer and Germany’s BioNTech was better than what the market was expecting. Dr. Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, has said that a vaccine that was 50% to 60% effective would be acceptable.
https://www.cnbc.com/2020/11/08/election-stock-market-futures-open-to-close-news.html
Pfizer, BioNTech say Covid vaccine is more than 90% effective—‘great day for science and humanity’
Pfizer’s results were based on the first interim efficacy analysis conducted by an external and independent Data Monitoring Committee from the phase three clinical study. The independent group of experts oversees U.S. clinical trials to ensure the safety of participants.
The analysis evaluated 94 confirmed Covid-19 infections among the trial’s 43,538 participants. Pfizer and the U.S. pharmaceutical giant’s German biotech partner said the case split between vaccinated individuals and those who received a placebo indicated a vaccine efficacy rate of above 90% at seven days after the second dose.
It means that protection from Covid-19 is achieved 28 days after the initial vaccination, which consists of a two-dose schedule. The final vaccine efficacy percentage may vary, however, as safety and additional data continue to be collected.
Dr. Scott Gottlieb, a former FDA commissioner, told CNBC the vaccine could be available in limited use as early as late December and widely available by the third quarter of 2021.
https://www.cnbc.com/2020/11/09/covid-vaccine-pfizer-drug-is-more-than-90percent-effective-in-preventing-infection.html
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