Pfizer surges 19% as parent claims Covid-19 vaccine 90% effective

Pfizer and its German partner BioNTech SE said they had so far found no serious safety concerns

Shares of Pfizer rallied 19 per cent to its record high of Rs 5,875 on the BSE on Tuesday after its parent company Pfizer Inc said that its Covid-19 vaccine was more than 90 per cent effective, based on initial trial results.

The pharmaceutical company's stock surpassed its previous high of Rs 5,273.55, touched on October 27, 2020. At 09:51 am, the stock erases its gain and was trading 7 per cent higher at Rs 5,275, against 0.7 per cent rise in the S&P BSE Sensex. The stock rallied 63 per cent from its March low of Rs 3,588.