US drugmaker Pfizer's announcement Monday that it believes its Covid-19 vaccine is more than 90% effective has triggered a wave of optimism around the world, parts of which are under a second round of lockdown, desperately looking for a way out.
Pfizer's announcement, based on early data from its Phase 3 trial, was much better than expected and some experts are saying doses could be produced and distributed in the next month. The trial of the vaccine, made in partnership with Germany's BioNTech, has enrolled more than 43,500 participants since July 27.
- Timeline: Dr. Anthony Fauci, the US government's top infectious disease expert, says doses could be given to people "by the end of November, the beginning of December."
- Global doses: The US drugmaker believes it could make up to 50 million doses available globally this year, and 1.3 billion doses in 2021.
- Caveats: While the development has been welcome around the world, Pfizer CEO Albert Bourla told CNN: "How long this protection lasts is something we don't know."
- Challenges: US State health officials have expressed concerns about the requirements for handling Pfizer’s vaccine, which must be stored at the extremely cold temperature of minus-75 degrees Celsius (minus-103 Fahrenheit), far below the capacity of standard freezers.
- Safety: Pfizer says “no corners were cut” in the vaccine's development, saying there are no safety concerns.
- Progress: As of Sunday, 38,955 of the volunteers in the Pfizer trial have received a second dose. The company says 42% of international trial sites and 30% of US trial sites involve volunteers of racially and ethnically diverse backgrounds.
- Market reaction: The news on Pfizer triggered a rally Monday, but global stocks petered out Tuesday, with some major indexes still inching up.