Pfizer Vaccine to Get Emergency-Use Approval within Weeks

Pfizer and BioNTech will be amongst the first pharmaceutical industry leaders to gain emergency authorization for a COVID vaccine in the United States. The latest coronavirus vaccine update has prompted US Health and Human Services Secretary Alex Azar to say that there is “light at the end of the tunnel.” The emergency-use authorization (EUA) could also mean that the Pfizer vaccine will be available on a limited basis within weeks.

The application to the US Food and Drug Administration (FDA) for emergency-use authorization comes days after Pfizer and its German partner BioNTech announced its COVID-19 vaccine is 95% effective. Early results from Pfizer’s phase 3 clinical trials showed that the two shots, given three weeks apart, prevent symptomatic COVID-19 in people aged over 65 years, with no major safety concerns.

Pfizer Vaccine COVID Cure Emergency Use Authorization FDA

Pfizer and BioNTech expect emergency approval for the vaccine from the US regulatory authorities for use in people aged 16 to 85.

“Our work to deliver a safe and effective vaccine has never been more urgent, as we continue to see an alarming rise in the number of cases of COVID-19 globally,” Dr. Albert Bourla, Pfizer Chairman and CEO, said in a statement.

Pfizer and BioNTech are also submitting for the “initiated rolling submissions” in Australia, Canada, Europe, Japan and the United Kingdom. The drugmakers will make 50 million doses available this year and 1.3 billion in 2021, using both facilities in the United States and Belgium.

“Filing in the U.S. represents a critical milestone in our journey to deliver a COVID-19 vaccine to the world and we now have a more complete picture of both the efficacy and safety profile of our vaccine, giving us confidence in its potential,” said Bourla.

Pharmaceutical leaders’ progress in developing a successful COVID-19 vaccine has brought much-needed hope since the outbreak in early March this year. Earlier this week, Moderna announced its COVID vaccine showed a high rate of efficacy.

The US FDA along with an independent advisory board will review Pfizer’s filing for emergency-use authorization before it is available to the common public. One major drawback of the Pfizer vaccine is its requirement for ultra-cold storage. The vaccine shots must be stored at minus 94 degrees Fahrenheit  – which poses a huge logistics and storage problem at healthcare facilities across the United States and elsewhere worldwide.

Other drugmakers and research groups joining the race to develop a successful COVID-19 vaccine are AstraZeneca and Johnson & Johnson.

Anna Domanska
Anna Domanska is an Industry Leaders Magazine author possessing wide-range of knowledge for Business News. She is an avid reader and writer of Business and CEO Magazines and a rigorous follower of Business Leaders.

Recent Posts

America is Losing its Appetite for Plant-Based Meat

America is Losing its Appetite for Plant-Based Meat

Most meat in 2040 will not come from animals, says report. However, the recent decline in sales of plant-based meat fell by 1.8 percent compared to the year before, taking declines
7 mins ago
Fusion startup raises $1.8 billion to give us unlimited clean energy

Fusion startup raises $1.8 billion to give us unlimited clean energy

Commonwealth Fusion Systems secures more than $1.8 billion in Series B funding to commercialize fusion energy. The funding round was led by Tiger Global Management with participati
20 hours ago
Omicron might push inflation, says OECD

Omicron might push inflation, says OECD

The latest Coronavirus variant, Omicron, which is believed to be more transmissible and severe, might derail growth and recovery and raise costs, according to the Organization for
1 day ago
Who is Parag Agrawal, Twitter’s new CEO?

Who is Parag Agrawal, Twitter’s new CEO?

Indian-born Parag Agrawal took over as the CEO of Twitter as co-founder Jack Dorsey stepped down for the second time in his career. Agrawal is the fourth person to take the reins a
2 days ago
Goldman Sachs rolls out paid leave for pregnancy loss

Goldman Sachs rolls out paid leave for pregnancy loss

Goldman employees are now eligible for 20 days of paid leave for a miscarriage or stillbirth. The investment banking giant is also increasing its retirement fund matching contribut
2 days ago
Boom in Tech IPOs in 2021

Boom in Tech IPOs in 2021

The big tech cloud-based software companies such as Zoom, Snowflake, Asana, Airbnb, Amazon, Salesforce and Palantir have all witnessed a rise in stock prices as work from home and
3 days ago