Pfizer gains on buzz US parent seeks nod for Covid-19 vaccine in India

Pfizer rose 1.72% to Rs 5346.70 after the media reported that the company's US-based parent is seeking permission to import its Covid vaccine for sale and distribution in India.

As per media reports, Pfizer Inc has sought an emergency use authorisation for its messenger RNA vaccine from the Drug Controller General of India V.G. Somani. The company is seeking permission to import the vaccine for sale and distribution in the country as well as skip a phase 3 bridging study, the reports added.

Pfizer Inc's vaccine had reportedly shown robust efficacy data against covid-19 in a recently concluded US trial.

Last week, the UK Medicines & Healthcare Products Regulatory Agency (MHRA) became the first regulator to grant a temporary authorisation for use of the Covid-19 mRNA vaccine, which Pfizer has co-developed with German company BioNTech.

Pfizer is a research-based global biopharmaceutical company which is engaged in the discovery, development and manufacture of healthcare products.

The drug maker's net profit dropped 14.83% to Rs 131.37 crore on 4.99% increase in revenue from operations to Rs 595.41 crore in Q2 September 2020 over Q2 September 2019.

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