On Nov. 9, Pfizer stock rose 7.7 percent after the company announced that its experimental coronavirus vaccine candidate succeeded in a late-stage clinical study. Pfizer is developing the COVID-19 vaccine, BNT162b2, in partnership with the German drugmaker BioNTech. Is Pfizer a part of Operation Warp Speed?
Pfizer’s coronavirus vaccine is more than 90 percent effective
Pfizer announced positive early results from its COVID-19 vaccine trial. The company said the vaccine was over 90 percent effective in preventing coronavirus. However, the vaccine still needs to be reviewed by the FDA.
Is Pfizer a part of Operation Warp Speed?
Operation Warp Speed is a public-private partnership. It was initiated by the Trump administration to accelerate developing, manufacturing, and distributing coronavirus vaccines, therapeutics, and diagnostics. The Operation Warp Speed program aims to produce and deliver 300 million doses of a coronavirus vaccine by January 2021.
Pfizer is part of the Operation Warp Speed program. The U.S. government has agreed to pay nearly $2 billion to deliver 100 million doses of the COVID-19 vaccine with the option to buy 500 million additional doses.
Did Pfizer take government money?
Under the Operation Warp Speed program, Pfizer entered into an advance-purchase agreement with the U.S. government, which indicates that the drugmaker won’t get paid until the vaccines are delivered.
Pfizer didn’t get any money from the U.S. government for developing the vaccine, conducting a clinical trial, and manufacturing the coronavirus vaccine. In contrast, BioNTech has received $445 million from the German government. Pfizer didn’t accept federal funding to help develop the COVID-19 vaccine unlike front-runners AstraZeneca and Moderna.
Is Pfizer a U.S. company?
Yes, Pfizer is a U.S. company. The pharmaceutical company was founded in 1849 by Charles F. Erhart and Charles Pfizer.
What is Pfizer CEO Albert Bourla’s net worth?
Albert Bourla is a Greek business executive who serves as Pfizer's chairman and CEO. His estimated net worth is approximately $27 million as of February 2020.
Pence appeared to take credit for Pfizer's vaccine
On Nov. 9, Vice President Mike Pence appeared to take credit for the company’s COVID-19 vaccine success.
Is Pfizer stock a buy?
According to TipRanks, ten analysts cover Pfizer stock right now. Among the analysts, four recommend a buy, while six recommend a hold. The median target price for the stock is $42.50, which represents a potential upside of 8.4 percent.
Pfizer stock is a buy right now based on the strong growth outlook. The market penetration for a coronavirus vaccine is literally the entire world. If the vaccine is approved, the company expects to produce 1.3 billion doses in 2021.