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12/12/2020, 3:27 AM (Source: TeleTrader)
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FDA approves Pfizer's COVID-19 vaccine for emergency use

United States Food and Drug Administration (FDA) has given emergency use authorization (EUA) to the coronavirus vaccine developed by Pfizer Inc. with its German partner BioNTech SE.

Although not approval, the EUA paves the way for shipments of the vaccine to be distributed across the country with vaccinations expected to start mid-December. A day ago, an FDA panel has recommended the candidate be authorized, while a Centers for Disease Control and Prevention (CDC) panel previously suggested for health-care workers and long-term care facility residents to be the first to get vaccinated.

FDA Commissioner Stephen Hahn called the action a "significant milestone" in battling the pandemic and explained the decision followed an "open and transparent" review process that evaluated the candidate's "safety, effectiveness, and manufacturing quality."

Pfizer's shares ended the day at $41.12, down by 1.46%, and went up by 0.19% in after-hours trading, selling for $41.20 per share.

Breaking the News / NL