Pfizer on the rise after UK approves Coronavirus Vaccine

Pfizer on the rise after UK approves Coronavirus Vaccine

The UK has become the first country in the world to approve the Pfizer/BioNTech coronavirus vaccine and has already started bringing in the first doses with around 800,000 due in the coming week.

The UK has supposedly bought 40 million doses of the vaccine, which has been tested and proven to be 95% effective agaisnt Covid-19 in the last stretch of the vaccine trials.

Pfizers Stock jumped 3.5% on Wednesday and BioNTech followed suit with its shares rising 6.2%. Competitor, Moderna, saw its shares close at 1.4%. Moderna is currently working on a coronavirus vaccine.

In the coming weeks, Pfizer will await authorization in the United States, as well as several other European countries. The benefits and test results will be reviewed by the Food and Drug Administration next week on December 10th. Should the committee approve the vaccine, we are most likely to see another rise in the Pfizer stock.

Pfizer is currently Trading at $41.04 as of 3 December 2020 4:27a.m EST.

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