PFE Stock Price Up 3% in Pre-market as UK Orders 90 Million Doses of Pfizer COVID-19 Vaccine

UTC by Christopher Hamman · 3 min read
PFE Stock Price Up 3% in Pre-market as UK Orders 90 Million Doses of Pfizer COVID-19 Vaccine
Photo: Depositphotos

Her Majesty’s Government has ordered 90 million doses of Pfizer COVID-19 vaccine candidate which became a stimulus for the PFE stock price rise. Moreover, the UK is going to be a worldwide leader in the search for a working vaccine.

Pfizer Inc (NYSE: PFE) stock price has gone up 3.34% in the pre-market. The rise is occurring as the United Kingdom’s Government has ordered 90 million doses of its COVID-19 vaccine. It is alongside other Bio-medical companies such as BioNTech SE (NASDAQ: BNTX) and Valneva SE (EPA: VLA).

On Friday Pfizer (PFE) stock price was at $36.25 (+1.83%). In the pre-market today, the stock is up over 3%, reaching $37.46. Its shares rose slightly at the close of trading last week and are believed to rally at the start of trading today as well.

Sources say that the UK government is considering three different vaccine candidates and instituting a 50,000-strong program for clinical trials. What is more, it is also actively seeking volunteers.

COVID-19 Vaccines Available Between This and Next Year

Pfizer (PFE) and BioNTech (BNTX) have both stated that 30 million doses of their vaccine should be available between this and next year. The companies have indicated that they will look for regulatory approval because as it is granted they could produce and ship up to 100 million doses. It could be before the end of the year. The United States is also involved with the Pfizer (PFE) project. Its “Operation WarpSpeed” program has boosted Pfizer’s efforts. The US program has a $10 billion war chest.

The Pfizer and BioNTech vaccine employs new m-RNA technology. It stimulates the body to produce proteins by itself. Valneva (VLA) is using technology that has been successful before. The technology has worked in “Ixiaro”, which is the company’s vaccine for Japanese encephalitis. The Valaneva candidate is behind the Pfizer and BioNTech project. The company will supply up to 100 million vaccines. That is upon the successful completion of its trials. Its clinical trials will start at the end of the year. It should be mentioned that AstraZeneca Plc (LON: AZN) and the University of Oxford have also been developing a COVID-19 vaccine candidate as the UK Government has ordered it from them as well.

UK Government Is Funding Innovation

The UK Government will fund R&D. It is going to finance the costs of the clinical trials and is working on obtaining the funding to expand Vilanova’s Livingston Scotland facility. The UK is also developing its Vaccines Manufacturing and Innovation Centre (VMIC). Her Majesty’s Government has invested £93 million in the development of the center.

The implications of the UK Government’s actions are clear. These actions are part of the UK’s commitment to leading the world in innovation. It is clear that the UK is going to be one of the first countries that will come up with a working COVID-19 vaccine. It goes to show that the role of government in fostering innovation cannot be underestimated. It is always critical in the eventual success of private ventures.

Business News, Market News, News, Stocks, Wall Street
Christopher Hamman

Christopher Haruna Hamman is a Freelance content developer, Crypto-Enthusiast and tech-savvy individual. He is also a Superstar Content Developer, Strategy Demigod, and Standup Guy.

Related Articles