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American pharmaceutical corporation Pfizer announces breakthrough on Covid-19 vaccine


A breakthrough on a potential vaccine for Covid-19 has been announced causing widespread excitement around the world.

Pfizer Inc's PFE.N experimental vaccine is more than 90% effective according to initial trial results, the company said in a statement on Monday,

Pfizer and their German partner BioNTech said they found no serious safety concerns so far and expect to seek U.S. authorization this month for emergency use of the vaccine.

If granted, the companies believe they can roll out up to fifty million doses in 2020, enough to protect 25 million people, and then produce up to 1.3 billion doses next year.

"Today is a great day for science and humanity," Pfizer Chief Executive Albert Bourla said Monday.

"We are reaching this critical milestone in our vaccine development program at a time when the world needs it most with infection rates setting new records, hospitals nearing over-capacity and economies struggling to reopen," he added.

Vice President Mike Pence immediately tweeted attributing credit for the breakthrough to Donald Trump. "HUGE NEWS: Thanks to the public-private partnership forged by President @realDonaldTrump @pfizerannounced its Coronavirus Vaccine trial is E.FFECTIVE, preventing infection in 90% of its volunt eers," he posted.

Stock markets around the world have greeted the news, along with the elevation of Joe Biden to the U.S. presidency, with what could only be described as irrational exuberance, pushing indices up by several percentage points. All major indices on Wall Street were trading at new all time highs at the time of writing, with the Dow Jones up more than 1,300 points

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