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Pfizer shares drop as Moderna vaccine seen easier to distribute

Stock Markets Nov 16, 2020 12:05PM ET
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© Reuters. The Pfizer logo is seen at their UK commercial headquarters in Walton Oaks

By Danilo Masoni

MILAN (Reuters) - Shares in Pfizer (N:PFE) fell on Monday after rival drugmaker Moderna (O:MRNA) said its experimental vaccine against COVID-19 was 94.5% effective and that it can be stored at normal fridge temperatures.

Moderna is the second U.S. company to report encouraging trial results on a COVID-19 vaccine, joining Pfizer (N:PFE) which has said its vaccine is also more than 90% effective.

But while Pfizer's vaccine has to be stored and shipped at ultra-cool temperatures, Moderna said its product can be kept at normal fridge temperatures.

"This is very important, perhaps a game changer," said Fawad Razaqzada, analyst at ThinkMarkets.

"The Pfizer vaccine had to be kept in very cold temperatures of minus 70 degrees Celsius, making it logistically difficult to produce and transport large doses of the vaccine," he said.

Pfizer shares, which on Nov. 9 hit their highest levels since end July 2019, fell 4.1% by 1623 GMT, while shares in its German partner BioNTech were down 12.8%.

JPMorgan (NYSE:JPM) analysts said the logistics of Moderna's vaccine were clearly less onerous although they expect storage requirements for both the vaccines to converge.

Moderna shares were up 9% after hitting a record high earlier on Monday, while shares in British drugmaker AstraZeneca (L:AZN), which is yet to release results from its late-stage vaccine trials, were down 0.9%.

Pfizer shares drop as Moderna vaccine seen easier to distribute
 

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Comments (3)
Manik Aggarwal
Manik Aggarwal Nov 16, 2020 8:07PM ET
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once the vaccine get approved will be manufactured by all pharmaceutical company under licenced with whom govt. has signed contract because requirsd demand is high.
Alex Cavasin
Alex Cavasin Nov 16, 2020 12:21PM ET
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the world needs less vaccines and no nwo
Veronica Robinson
Veronica Robinson Nov 16, 2020 12:17PM ET
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foolishness, Pfizer is just as Good as Moderna and the World needs more than one vaccine,Pfizer refrigeration is being worked out by scientist and Biotech staff now,why does there have to be a loser,the ultimate Goal is preventing the spread of Covid,let's remember that fact
 
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