Pfizer surges 19% as parent's Covid vaccine trial success
Published On: Tuesday, November 10, 2020 | By: Team KnowMyStock
Shares of Pfizer gained 20 per cent on Tuesday and touched a record high of Rs.5900 a piece after its parent company Pfizer Inc said that its Covid-19 vaccine was more than 90 per cent effective, based on initial trial results. Pfizer and German partner BioNTech said they had found no serious safety concerns yet and expected to seek US emergency use authorization this month, raising the chance of a regulatory decision as soon as December, an announcement that triggered hopes worldwide. The trial will continue through a final analysis at 164 confirmed cases. The trial has enrolled 43,538 participants to date, and of these, 38,955 had received a second dose as of November 8. If permission granted, the two companies estimate they can roll out up to 50 million doses this year, enough to protect 25 million people, and then produce up to 1.3 billion doses in 2021. This announcement has cheered the world market on hopes of Covid vaccine.
The company had declared a Rs 330 (Rs 320: special, Rs 10: final) dividend for FY20. Additionally, it has maintained a dividend payout of 25-30 per cent during FY16-19, it said
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