Pfizer Soars 19% To All-Time High After Parent Company's Successful Vaccine Trials

Pfizer shares soared nearly 20 per cent to an all-time high on the BSE in early trading after its parent company, the US-based multinational pharma firm Pfizer said that its COVID-19 vaccine, developed in association with the German partner BioNTech SE, was more than 90 per cent effective against SARS-CoV-2, the novel coronavirus that causes Covid-19. Riding on the research developments, the shares of Pfizer opened at the day’s and all-time high of ₹ 5,875, up as much as 19.5 per cent, on the BSE. At 12:20 pm, the shares pared most of their gains and were trading at ₹ 5,100, up 3.7 per cent.

Pfizer and German partner BioNTech have been the first to release data showing that their vaccine worked in large, late-stage clinical trials and said they did not find any serious safety concerns as yet. They will be seeking US emergency use authorization this month.

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