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Pfizer spurts after parent's Covid vaccine trial success

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Pfizer jumped 5.16% to Rs 5171.85 after the company's US-based parent said that its vaccine candidate against COVID-19 achieved success in first interim analysis from Phase 3 study.

The scrip jumped 19.46% to hit the day's high at Rs 5875 in early trade. The counter witnessed volume of 72,122 shares on the BSE, a 23.42 times surge over two-week average daily volume of 3,079 shares. On the NSE, the counter witnessed volume of 13,95,616 shares, a 24.37 times surge over three-month average daily volume of 57,265 shares.

Pfizer Inc. and BioNTech SE announced their mRNA-based vaccine candidate against SARS-CoV-2 has demonstrated evidence of efficacy against COVID-19 in participants without prior evidence of SARS-CoV-2 infection, based on the first interim efficacy analysis conducted on 8 November 2020 by an external, independent Data Monitoring Committee (DMC) from the Phase 3 clinical study.

The analysis evaluated 94 confirmed cases of COVID-19 in trial participants. The case split between vaccinated individuals and those who received the placebo indicates a vaccine efficacy rate above 90%, at 7 days after the second dose. As the study continues, the final vaccine efficacy percentage may vary.

The DMC has not reported any serious safety concerns and recommends that the study continue to collect additional safety and efficacy data as planned. The data will be discussed with regulatory authorities worldwide.

Dr. Albert Bourla, Pfizer Chairman and CEO, said: "The first set of results from our Phase 3 COVID-19 vaccine trial provides the initial evidence of our vaccine's ability to prevent COVID-19. We look forward to sharing additional efficacy and safety data generated from thousands of participants in the coming weeks."

Pfizer and Germany's BioNTech are in a race with companies including AstraZeneca Plc, Moderna Inc. and dozens of other biopharmaceutical outfits and academic groups to come up with a safe and effective vaccine against Covid-19.

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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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, November 10 2020. 12:27 IST