The share price of Pfizer gained significantly on Thursday after the American pharmaceutical corporation (Pfizer Inc) said that the final results from the late-stage trial of its COVID-19 vaccine were 95 percent effective.
The stock surged as much as 6.33 percent to Rs 5,218 per share on the NSE. At 9:38 am, the stock gave up some gains to trade 3.9 percent higher at Rs 5,100.70 apiece.
The company added that it would apply for emergency U.S. authorization within days.
The drugmaker said the efficacy of the vaccine developed with German partner BioNTech SE was consistent across age and ethnicity demographics, and that there were no major side effects, a sign that the immunization could be employed broadly around the world.
Efficacy in adults over 65 years, who are at particular risk from the virus, was over 94 percent.
Pfizer and BioNTech also said they plan to submit the data to other regulatory agencies around the world as well as the United States. They plan to submit data from the study to a peer-reviewed scientific journal.
Pfizer reiterated it expects to make as many as 50 million vaccine doses this year, enough to protect 25 million people, and then produce up to 1.3 billion doses in 2021.