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(new: analyst comments, updated price evolution)
FRANKFURT (dpa-AFX Broker) – The prospect of a coronavirus vaccine caused Pfizer and BioNTech to hike prices on Monday. Shares of Mainz biotech company Biontech, which is listed on the US technology exchange Nasdaq, rose 25 percent to US $ 115. However, they gave up part of these earnings and kept up to 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 is crucial for 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. Now it is logical to think that it could be a breakthrough in the fight against the pandemic. With the jump in price, Pfizer shares are already trading in an optimal vaccine scenario.
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 currently being researched and developed against the virus may also be more effective than previously thought, Gould added.
Berenberg Bank analyst Zhiqiang Shu argued a bit more cautiously. The efficiency requirements of the US pharmaceutical agency FDA should 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 admission. / Bek / tih / he
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