Categories
Health

Biontech and Pfizer soar | Free Press

The German manufacturer Biontech and the American company Pfizer present promising interim results of a large study for a corona vaccine. This has an immediate effect on stock prices.

Frankfurt / Main (dpa) – The prospect of a coronavirus vaccine prompted Pfizer and Biontech to hike prices on Monday.

Shares of Mainz biotech company Biontech, which is listed on the US technology exchange Nasdaq, soared 25 percent to US $ 115. However, they gave up some of these gains and were up 10 percent. Shares of the pharmaceutical company Pfizer rose 8.7 percent.

An effective corona vaccine in Europe and the US is within reach: Biontech and Pfizer were the first Western manufacturers to publish promising results from a study that was crucial to its approval on Monday. Consequently, its vaccine offers more than 90 percent protection against Covid-19 disease. Serious side effects have yet to be recorded, the two companies said.

The efficiency of more than 90 percent is impressive, wrote investment bank JPMorgan analyst Chris Schott in a first reaction to the news. It is logical to think that it could be a breakthrough in the fight against the pandemic.

A candidate vaccine effectiveness of more than 90 percent is higher than expected, wrote Barclays Bank analyst Carter Gould. The result should help address concerns about efficacy and overall preparation for vaccination. Other vaccines that are currently being researched and developed against the virus may also be more effective than previously thought, Gould added.

Berenberg Bank analyst Zhiqiang Shu argued somewhat more cautiously. The efficiency requirements of the US pharmaceutical agency FDA must be easily exceeded with an efficiency of 90 percent. Also, so far there have been no serious security issues. However, other questions, such as the duration of protection, remained unanswered. Some of these questions can probably only be answered after approval.