Promising, new test results for a COVID-19 vaccine developed by Pfizer and BioNTech let to soaring stock markets yesterday in the expectation of economic recovery and an end in sight for currents curbs and restrictions on consumer behaviour and everyday activity.
Photo: David Dee Delgado/AFP/Ritzau Scanpix
”According to the current results, the vaccine candidate can prevent infections in ninety percent of cases compared to an expected sixty percent and an standard efficiency of between forty and sixty percent for normall flu vaccines. No significant side effects have been reported, and Pfizer says, tit has a capacity to produce 50 million vaccines before year end and about 1.3 billion in 2021”, says senior analyst at Danske Bank, Mikael Milhøj.
Rally in expection of things to come
He adds that the vaccine must be administered twice to be effective, and that approval is still pending.
”It can take months before we have a full understanding of the efficiency and safety of the vaccine, both of which are key parameters for health authorities approving a vaccine. But markets chose to rally in the expectation of things to come, particularly so in Europe, where many business are sensitive to COVID-19. Reactions in the US were more mixed due to the higher proportion of IT and technology companies”, says Mikael Milhøj.