Moderna receives FDA approval for its COVID-19 vaccine

The United States has received a second coronavirus vaccine for mass vaccination. Moderna vaccine will begin use next week and requires more standard storage conditions than Pfizer’s vaccine. The US authorities have already announced that the government will purchase an additional 100 million doses of Moderna vaccine.

Moderna (MRNA) shares, up 636% YTD, rose more than 5% on Thursday amid news of FDA approval for emergency use of the company’s COVID vaccine. 19.

Mass vaccination of Americans with the Moderna vaccine, which has been shown to be more than 94% effective in preventing infection with the virus, will begin next week.

The Moderna news affected the US stock market as a whole, as three key indexes closed with strong gains on Thursday, despite a negative report by the Labor Department that new jobless claims spike for the second week in a row.

On Thursday, the S&P 500 was up 0.58%, the Dow Jones up 0.49% and the Nasdaq Composite up 0.84%.

The FDA’s Advisory Committee on Vaccines and Related Biologicals has voted to recommend emergency use of Moderna vaccine (20-0 with one abstention).

On Monday, US officials said they plan to ship the first shipment of just under 6 million doses of Moderna vaccines as soon as the FDA grants approval. To obtain strong immunity against coronavirus, two doses of Moderna vaccine are required four weeks apart.

Moderna was awarded a government contract to supply 100 million doses of vaccines worth approximately $ 1.5 billion in August, while the company was still testing it. The federal government announced last week that it will purchase an additional 100 million doses of Moderna vaccine.

The vaccine, developed by Pfizer (PFE) and BioNtech (BNTX), received FDA approval a week ago and began use on Monday. Pfizer and BioNtech have $ 1.9 billion contracts for 100 million doses of COVID-19 vaccine with the US Department of Health and Human Services and the US Department of Defense.

The Pfizer vaccine has also been shown to be highly effective at around 90%, however it requires storage at ultra-low temperatures (-70 ℃ / -94 Fahrenheit). The companies are reportedly in talks with the US government for additional supplies.

Moderna vaccine requires more standard storage conditions of -15.56 ° C.

At the same time, FDA officials noted that Pfizer and Moderna vaccines are different from licensed vaccines, as data collected over a short period of testing (several months) is limited and the FDA will continue to monitor the vaccination process and form its recommendations for use.

The Moderna vaccine is recommended for adults 18 years of age and older, but FDA abstaining, Michael Kurill, an infectious disease expert at the National Institutes of Health, said the age group is too broad and he has no confidence that “for all in these age groups, the benefits really outweigh the risks. ”

Moderna vaccine was tested by about 30,000 participants, many of whom were from different races, and the results showed its safety, and the side effects were minor and usually lasted no longer than a week.

Moderna said it has allocated pregnant women to a separate group of vaccinated in order to track the effectiveness of the vaccine and monitor their health.

Health experts are asking to be attentive to the issue of vaccination for people with severe chronic diseases and allergies.

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