Drug makers Pfizer and BioNTech raised hopes of a big win in the fight against the coronavirus pandemic, saying their experimental vaccine could prevent COVID-19 90 percent effectively.
The announcement on Monday was very well received worldwide. Stock markets hit new records and political leaders welcomed the results of the late-stage study – even if scientists and doctors warned that many questions remained unanswered and that any celebration was premature, it would be premature.
In the face of efforts to contain a disease that killed more than 1.25 million people worldwide and destroyed livelihoods, here’s everything you need to know about the promising vaccine.
What was announced?
The drug manufacturers’ study involved around 44,000 people in six countries, half of whom were treated with the vaccine while the other half received a placebo – a treatment that is said to have no effect.
Monday’s data comes from an interim analysis conducted after 94 participants in the ongoing study developed COVID-19. Less than nine of them who had the disease had received the vaccine.
To confirm the effectiveness rate, Pfizer said it would continue its study until 164 COVID-19 cases occurred among volunteers. A number approved by the Food and Drug Administration (FDA) is enough to tell how well the vaccine is working.
However, the data has yet to be peer-reviewed or published in a medical journal. Pfizer said it would do so once the results of the entire trial were in.
Outside experts said important details of the data need to be analyzed and warned that many questions remain, including whether the vaccine can prevent serious illness or complications, how long it will protect against infection, and how well it will work in the elderly .
How does this vaccine work?
When you get vaccinated you usually get either a weakened or dead part of the virus or the bacteria that cause disease. That way, the vaccine won’t make you sick, but your body will recognize that it is a foreign element and trigger an immune response. This means that when your body encounters the real bug that is causing this disease, it is ready to attack it right away.
The way this new vaccine works is known as mRNA. This means that you will not be injected with parts of the virus or a weakened form of it, but that you will actually be given part of the genetic code of the coronavirus. This causes the body to produce some of the viral proteins on its own so the immune system can recognize these proteins and trigger a defensive response to them.
What was the reaction like?
Investors piled into bank stocks, airlines, and other economically sensitive companies ravaged by months of coronavirus-induced lockdowns and travel bans, pushing major U.S. stock indices to new record highs.
Pfizer shares rose 6 percent in New York, while BioNTech’s US shares rose 18 percent.
The World Health Organization said the results were very positive but warned of a $ 4.5 billion funding gap that could slow access to tests, drugs and vaccines in low and middle income countries.
Experts also warned that distributing the vaccine could pose major challenges, especially in poorer countries where electricity supplies are inadequate, as it must be stored at industrial freezing temperatures to be effective.
What’s next?
Pfizer and BioNTech plan to apply to the FDA for emergency approval to use the vaccine by the end of the month when they have two months of safety data on approximately half of the study participants. This opened up the possibility of a regulatory decision back in December.
To save time, companies started making the vaccine before they knew whether it would be effective. They now expect to produce up to 50 million cans this year, or enough to protect 25 million people.
Pfizer expects to produce up to 1.3 billion doses of the vaccine by 2021.
Who is queuing to buy it?
Pfizer and BioNTech have signed a $ 1.95 billion contract with the US government to supply 100 million doses of vaccine starting this year. They also have supply agreements with the European Union, the United Kingdom, Canada and Japan.
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