Pfizer gains 7.6% as parent firm's potential Covid-19 drug shows positive result


Published On: Thursday, July 2, 2020 | By:

Pfizer gains 7.6%  as parent firm's potential Covid-19 drug shows positive result

Shares of Pfizer India jumped 7.6 per cent to Rs 4,275 apiece on the BSE on Thursday after the company's US-arm giant released promising early results from its COVID-19 vaccine trials testing done on 45 people. A combined 145,933 shares have changed hands on the counter on NSE and BSE. Pfizer is working with German biotech BioNTech to develop a novel coronavirus vaccine. On Wednesday, the two companies said that one of their vaccine candidates, labelled BNT162b1, produced neutralizing antibodies in all 24 participants who received two doses (of either 10 or 30 micrograms) of the experimental drug and are the fourth early-stage Covid-19 drug to show promise in human testing. Health officials are hopeful that neutralizing antibodies could help to build immunity to COVID-19. Notably, Pfizer and BioNTech said the levels of neutralizing antibodies were 1.8 times to 2.8 times higher than in patients who recovered from COVID-19.

If the vaccine proves both safe and effective, Pfizer and BioNTech would seek to produce up to 100 million doses by the end of this year and possibly more than 1.2 billion doses by the end of 2021.

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