On Monday, shares’ prices of the New York City-headquartered American multinational pharmaceutical behemoth, Pfizer Inc., took a tattering header of more than 3 per cent after its rival drugmaker, Moderna, based on Cambridge, Massachusetts, had unveiled that its experimental pandemic vaccines were found to be 94.5 per cent effective and could be stored in usual hospital refrigerators, adding strains on Pfizer Inc., shares’ prices of which had witnessed an unyielding upswing last Monday following reveal of its late-stage pandemic vaccine trial result that had shown its vaccines had been more than 90 per cent effective to battle the pandemic pathogens.
In point of fact, following its Monday’s announcement made earlier in the day, the Cambridge-based American multinational drugmaker became the second US pharmaceutical to let out a breakthrough development on pandemic vaccine trials which in effect had manumitted a bullish wind for a gauge of global stock indices, while shares’ prices of Nasdaq-listed Moderna mushroomed as much as 9.58 per cent to $97.95 on the day’s market round off.
Moderna shares rise 9.5% as vaccines seen easier to distribute
On top of an upbeat pandemic vaccine trial result, the Massachusetts-based biotechnology company had also unfurled that its vaccine could be stored in normal hospital refrigerators as beforementioned, while Pfizer Inc.
had said last week that its vaccines must be kept below -70 degree Celsius which would be a hefty burden for a raft of poorer nations that lacked required logistics support to maintain its cold chain, proffering an upper ground for Moderna.
In tandem, while several industry experts had been quoted saying that the landmark development in mRNA-based pandemic vaccine trials of Moderna had opened up an exclusive window of opportunity to treat a number of viral infections aside from the pandemic pathogen, an analysts at ThinkMarkets, Fawad Razaqzada said following the announcement, “This is very important, perhaps a game changer.
The Pfizer vaccine had to be kept in very cold temperatures of minus 70 degrees Celsius, making it logistically difficult to produce and transport large doses of the vaccine. ”