Pfizer to begin a pilot coronavirus immunization program in four USA states

Pfizer CEO'thrilled about Moderna's COVID-19 vaccine candidate results

Modern has received around $1 billion from the U.S. government for research and development of the COVID-19 vaccine.

News from USA drug company Moderna Inc. that its potential COVID-19 vaccine candidate has also been more than 90 per cent effective in clinical trials sent stock markets soaring on Monday, boosting hopes that the global economy may soon fully convalesce and things could get back to normal.

Moderna's vaccine announcement comes as virus cases topped 11 million in the United States over the weekend, with one million recorded in just the past week.

Moderna had announced on November 16 that the independent National Institute of Health-appointed body Data Safety Monitoring Board (DSMB), for Phase 3 trial of Moderna's COVID-19 vaccine candidate mRNA-1273, had stated that Moderna's COVID-19 vaccine candidate was 94.5% effective in preventing coronavirus infection.

Overnight Moderna, one of their competitors, announced that they have one that's nearly 95 percent effective. The news is arousing considerable excitement, with Pfizer CEO Albert Bourla calling this "a first but critical step in our work to deliver a safe and effective vaccine".

The biotech company used data from two groups of 15,000 people.

Moderna, which went public in 2018, has received almost $1bn in research and development funding from the USA government and has a deal worth $1.5bn to supply 100 million doses.

Both the Pfizer and Moderna vaccines are based on a new platform called messenger RNA, which is faster to produce than traditional vaccines.

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