Pfizer jumped 4.98% to Rs 4172.60 after the company's US-based parent reported positive preliminary results from a joint project to develop a coronavirus vaccine.
An early trial of an experimental coronavirus vaccine from US-based Pfizer and Germany's BioNTech showed it's safe and prompted patients to produce antibodies against the new virus, keeping it in the lead pack for a pandemic shot.The preliminary data come from a so-called phase 1/2 trial that aimed to show the vaccine is not toxic and triggers an immune system response to prepare the body to fight off the virus.
The study of Pfizer's and BioNtech's vaccine candidate, called BNT162b1, is undergoing scientific peer review. If the vaccine is successful, the companies expect to manufacture up to 100 million doses by the end of this year and potentially more than 1.2 billion doses by the end of 2021.
Pfizer and Germany's BioNTech are in a race with companies including AstraZeneca Plc, Moderna Inc. and dozens of other biopharmaceutical outfits and academic groups to come up with a safe and effective vaccine against Covid-19.
Pfizer's net profit fell 5.9% to Rs 103.01 crore on 6.3% decline in net sales to Rs 502 crore in Q4 March 2020 over Q4 March 2019.
Pfizer is a research-based global biopharmaceutical company which is engaged in the discovery, development and manufacture of healthcare products.
Powered by Capital Market - Live News