Pfizer Vaccine Shows 95% Efficacy

After reporting strong final data, we expect emergency authorization of Pfizer and BioNTech's vaccine by early December

Damien Conover, CFA 19 November, 2020 | 1:47AM

Capsules

Pfizer
 and partner BioNTech reported strong final data from the phase 3 study with COVID-19 vaccine BNT162b2, supporting an efficacy rate of 95% (previously reported over 90% at interim analysis) with no major safety issues observed. We continue to project the vaccine’s probability of full approval at 90%, supporting sales projections of EUR 13 billion in 2021. We don’t expect any major changes to our fair value estimates for Pfizer or BioNTech. The relatively rapid development of the vaccine reinforces the innovative power behind Pfizer’s wide moat and BioNTech’s positive moat trend.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
BioNTech SE ADR120.00 USD1.11
Pfizer Inc40.34 USD0.62

About Author

Damien Conover, CFA  Damien Conover, CFA, is an associate director for Morningstar.

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