Business Live Middle East rounds up the top five facts you need to know about the new Coronavirus (COVID-19) vaccine that is reportedly 90 per cent effective in dealing with the virus.

*Image for illustrative purposes only. Photo courtesy: Shutterstock

The numbers are dire: 50.9 million infected and over 1.26 million deaths registered globally. The destructive effects of the Novel Coronavirus (COVID-19) on human life and the world economy have fueled the need for a safe and effective vaccine that can be administered to the masses at ease.

And as countries such as the United States, United Kingdom, India, Germany, Russia, and China continue to spearhead research and development of Coronavirus-fighting vaccines, the race to the finish line has been brisk, but not without its controversies.

However, from its grasps comes news of a new vaccine – named: BNT162b2 – that is reportedly over 90 per cent effective in dealing with the virus. The mRNA-based vaccine is jointly being developed by American pharmaceutical company Pfizer and German biotech company BioNTech.

Pfizer states that as much as 50 million vaccines could hit the global markets before the end of this year, while another 1.3 billion will be supplied to health professionals by 2021. However, the BBC reports that “manufacturing of the [Pfizer-BioNTech] vaccine is already underway”.

Here, we compile five facts that you need to know about the new vaccine:

1) The vaccine is reportedly 90 per cent effective* in fighting COVID-19

Pfizer and BioNTech began its phase-3 clinical trials as early as July 2020. It is understood that half of the participants in the trials were inoculated, while the other half received a placebo of saltwater.

The groups were selected based on varying ethnicities. As per a report issued on its efficacy, only 94 out of over 44,000 participants tested positive for the Coronavirus while they were a part of the trials. After segregating participants from the placebo test, the company declared that the vaccine has been over 90 per cent effective; but the numbers are subject to vary over the course of testing.

The clinical trials will continue until a total of 164 COVID-19 cases will be detected.

2) The data from the clinical trials were kept ‘blinded’

A blinded clinical trial is an industry-standard in vaccine development. In the case of the new Pfizer-BioNTech ‘BNT162b2’ vaccine, only an independent board was privy to the data from the trials. No volunteers, doctors, or company executives received information from the clinical trials during vaccine development.

3) It takes 28 days for the vaccine to be effective

Pfizer reveals in its report that the vaccine will be administered in two doses, and that protection is achieved 28 days after the initiation of the vaccination in the patient. The efficacy rates are expected to vary as the study continues.

4) The vaccine was safe during the clinical trials

The Data Monitoring Committee (DMC) did not report any serious safety concerns pertaining to the vaccine or its efficacy; however, more data is being procured as they test out its viability on a global audience. Participants will continue to be monitored for long-term protection and safety for an additional two years after their second dose.

5) The vaccine will cost US$39 when it hits the US market*

In July 2020, Pfizer revealed that a two-dose administration of the vaccine will cost US$39 when it makes its way into the US. Pfizer has stated that it will not charge other developed countries a lower price for the vaccine than what the United States will pay.

*Disclaimer: The numbers are subject to vary over the course of testing.

**Disclaimer: The cost of the vaccine is as per US dollars and is expected to change when it hits local markets.

Source: Pfizer, BBC, NY Times