Pfizer Ltd share rose in early trade today after the pharma firm's parent Pfizer Inc said its COVID-19 vaccine was found 95 per cent effective in the final analysis of the Phase 3 trial, including in people aged over 65 years. The stock has gained after 2 days of consecutive fall.
The stock opened with a gain of 6.73% at Rs 5240 on BSE. The pharma share trades higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages.
The stock has gained 26% in one year and risen 20.78% since the beginning of this year.
The large cap share logged turnover of Rs 8.93 crore after 0.17 lakh shares changed hands on BSE. Market cap of the firm rose to Rs 23,354 crore.
American pharmaceutical giant Pfizer and its German partner BioNTech said they have concluded phase 3 study of their mRNA-based COVID-19 vaccine candidate BNT162b2, meeting all primary efficacy end points.
Based on current projections, the pharma firms expect to produce globally up to 50 million vaccine doses in 2020 and up to 1.3 billion doses by the end of 2021.
The announcement came just two days after leading biotechnology company Moderna said its virus vaccine had an efficacy rate of 94.5 per cent. Meanwhile, Sensex opened 188 points lower at 43,992 and Nifty fell 76 points to 12,861.