Pfizer Inc. (PFE) – Get report Shares rose further in premarket operations on Monday after the drug maker reached an agreement to sell 30 million doses of its experimental coronavirus vaccine to the British government.
Pfizer, which is working on two candidates for its BNT162 mRNA-based vaccine program in collaboration with Germany’s BioNTech Inc. (BNTX) – Get report, will supply 30 million doses, at an undisclosed price, once it is approved by regulators. However, UK Prime Minister Boris Johnson said Monday that it would be “overkill” to suggest that a vaccine would be available for “this year or next … We are not there yet.”
“In the face of this global health crisis, Pfizer’s purpose – advances that change patients’ lives – has become even more urgent. Accordingly, we are drawing on our scientific expertise, and combining our manufacturing resources to ensure that the vaccine is available as soon as possible, if our clinical trials prove to be successful and regulatory approval is granted, “said Pfizer CEO Albert Bourla .
“This agreement is a testament to our shared goal of having millions of doses of a COVID-19 vaccine available by the end of the year,” he added. “We would like to thank the UK government for their commitment and support in helping us to protect the people of the UK from this deadly virus.”
Pfizer shares were marked up 4.3% in pre-market trading after the announcement to indicate an opening bell price of $ 37.79 each, a move that would extend the four-month gain on the shares to around 32%. . BioNTech shares listed in the US rose 11.2% to $ 95.14 each on the Nasdaq.
Pfizer also published data from a trial of its vaccines in Germany, which showed T-cell responses in participating patients, an early indicator of its potential to develop anitbody reactions.
“It is encouraging that the BNT162b1 data from the German study cohort is very much in line with what we have seen in the US study cohort,” said BioNtech chief marketing officer Ozlem Tureci. “Preliminary data indicates that our mRNA-based vaccine was able to stimulate antibody and T-cell responses at remarkably low dose levels.”
“We believe that both can play an important role in achieving the effective elimination of a pathogen such as SARS-CoV-2,” he added.
Last week, Pfizer received the ‘Fast Track’ designation from the United States Food and Drug Administration for its BNT162 vaccine candidates based on preliminary data from the Phase 1 and Phase 2 studies in early this month. The first data from the German BNT162b1 trial is expected to be released in July, Pfizer said at the time.
Earlier this month, Pfizer said preliminary results from its coronavirus vaccine study said it triggered a “strong immune response” in human trials, a revealed plan to test the most promising of its four vaccine candidates in up to 30,000 participants in trials established for the United States and Europe.
No serious adverse effects were reported in the study, said Pfizer, which included testing two doses of BNT1162b1 in 24 healthy volunteer patients, but those treated showed higher levels of COVID-19 antibodies compared to those infected with the disease.
If regulators finally approve the drug, Pfizer said, the two companies plan to make up to 100 million doses by the end of the year, and “at least” another 1.2 billion by the end of 2021.
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