PFE Stock Slightly Up, Pfizer CEO Says Omicron Vaccine to Be Ready in March

UTC by Ibukun Ogundare · 3 min read
PFE Stock Slightly Up, Pfizer CEO Says Omicron Vaccine to Be Ready in March
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Pfizer CEO said that it is not clear if a fourth dose is required. He explained that Pfizer would conduct experiments to reach a conclusion.

Pharmaceutical industry company Pfizer Inc (NYSE: PFE) said its omicron vaccine would be available by March. According to the company’s CEO Albert Bourla, the Pfizer vaccine will focus on the omicron variant of Covid. The CEO further revealed that the pharmaceutical company has started manufacturing the doses. Bourla spoke about the incoming Pfizer vaccine against omicron while speaking to CNBC’s “Squawk Box” on the 10th of January. He specified that the company has started manufacturing some doses “at risk.”

The Pfizer Omicron Vaccine to Also Target Other Variants

In addition, the Pfizer omicron vaccine will also focus on the other variants that are currently in the spread, Bourla added. The CEO is not certain of the need for a vaccine for the omicron variant or its use when there is one. However, Bourla said Pfizer would provide the world with some doses as some countries are already demanding it.

“The hope is that we will achieve something that will have way, way better protection particularly against infections, because the protection against the hospitalizations and the severe disease – it is reasonable right now, with the current vaccines as long as you are having let’s say the third dose,” said he.

Furthermore, the Pfizer CEO said that it is not clear if a fourth dose is required. To clarify this, he said Pfizer would conduct experiments to reach a conclusion. On the other hand, Israel has provided the fourth dose of BioNTech (NASDAQ: BNTX) and Pfizer’s vaccine for people over 60 years.

The UK Health Security Agency has conducted a study to collate real-world data on the effectiveness of Pfizer and Moderna’s vaccines against omicron. The research revealed that both vaccines are about 10% effective at preventing symptomatic infection from omicron 20 weeks after the second dose. The study further showed that the initial two doses serve as protection against acute illness. Based on the research, booster shots prevent symptomatic infection up to about 75%.

White House Medical Adviser Says No Need for Variant-Specific Booster

Meanwhile, last month, White House medical adviser Dr. Anthony Fauci said that Covid boosters work against omicron. Hence, he stated that there is no need for a booster shot focusing on omicron. During a White House Covid update, Fauci said that “at this point, there is no need for a variant-specific booster.”

Separately, Moderna Inc (NASDAQ: MRNA) has also started working on a booster that targets omicron. The company’s CEO, Stephane Bancel, told that the booster would soon enter clinical trials.

Pfizer stock has been up and down in the last year. The company has added nearly 49% in the last twelve months, gaining an additional 33.71% in the last three months. Over the past month, Pfizer stock jumped 1.88%. The pharmaceutical company has also lost nearly 5% since the beginning of the year. In addition to losses, PFE plunged 0.72% in the last five days.

Pfizer stock is up 0.27% to $56.39 in after-hours trading at the press time.

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Ibukun Ogundare

Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.

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