American pharmaceutical company Pfizer discovered a vaccine that showed 90% efficacy. It had now made a big announcement that their discovered vaccine directly resulted in 95% efficacy, beating Moderna's vaccine, which showed only 94.5% efficacy.
The company had also made a statement saying that this vaccine does not show any significant side effects. Pfizer, which made this vaccine with its partner BioNTech said they plan to get emergency authorization from the United States Food and Drug Administration.
It is a big step for Pfizer as they have already shown an increase in efficacy from 90% to 95%. Experts said it was a significant achievement in the race to end the pandemic.
People can now expect a smile on their faces after lockdown, masks, hand sanitizer, quarantine, online classes, etc. After this big announcement, Pfizer's share value increased by 0.78%. On the other hand, their rivals Moderna's share price fell by a sharp 4.57%.
Even though Moderna's stocks fell by a sharp 4.57% value, they are still in the competition for discovering a new vaccine. The vaccine discovered by Pfizer requires an ultra-cool temperature of -70 degrees Celcius. But Moderna's vaccine only requires a temperature of -20 degrees.
The vaccine discovered by Pfizer showed mild side effects like fatigue(3.8%) and headache(2%) after the second dose. It would take several months to approve a vaccine for children as only Pfizer had started testing their vaccine on volunteers of 12 to 18.
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