STOCK TITAN

Pfizer and BioNTech Achieve Health Canada Authorization for Their Vaccine to Combat COVID-19

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
covid-19
Rhea-AI Summary

Health Canada has authorized the emergency use of the mRNA COVID-19 vaccine BNT162b2 developed by BioNTech and Pfizer. The companies will supply a minimum of 20 million doses to Canada in 2021, with potential upward adjustment to 76 million doses. This decision follows similar approvals in the U.K. and Bahrain. The authorization is based on extensive clinical trial data involving approximately 44,000 participants. BioNTech holds the regulatory approval, while Pfizer manages commercialization in Canada.

Positive
  • Health Canada authorization for BNT162b2 vaccine supports strong demand, potentially driving sales.
  • Commitment to supply at least 20 million doses through 2021 reflects confidence in vaccine distribution capabilities.
Negative
  • None.
  • Health Canada authorizes supply of COVID-19 mRNA vaccine under Interim Order Respecting the Importation, Sale and Advertising of Drugs for Use in Relation to COVID-19
  • The companies will supply a minimum of 20 million doses to Canada through 2021

KIRKLAND, QUEBEC, CANADA and MAINZ, GERMANY, December 9, 2020 (GLOBE NEWSWIRE)Pfizer Canada and BioNTech SE (Nasdaq: BNTX) today announced that Health Canada has granted Authorization under Interim Order for the emergency use of their mRNA COVID-19 vaccine (BNT162b2). The distribution of the vaccine in Canada will be prioritized according to the populations identified in guidance from the National Advisory Committee on Immunizations (NACI). BioNTech will hold the regulatory approval in Canada, while Pfizer Canada will have the commercialization rights.

“Today’s decision from Health Canada is a historic moment in our collective fight against the COVID-19 pandemic and is a major step towards returning to normalcy in Canada. I’d like to acknowledge the tremendous efforts of Pfizer and BioNTech colleagues around the world who have contributed to the development of this vaccine,” says Cole Pinnow, President, Pfizer Canada. “We commend Health Canada for its careful and thorough assessment of our COVID-19 vaccine and timely action to help protect Canadians.”  

“It is encouraging to see that our mRNA vaccine is now authorized in Canada. Following U.K. and Bahrain, it is the third country to approve use of our vaccine within a week,” said Sean Marett, BioNTech’s Chief Business and Chief Commercial Officer. “Together with our partner Pfizer, we are ready to ship the vaccines to Canada as soon as we receive the green light from the regulatory authority to start with the distribution.”

Health Canada’s decision is based on data that was filed through the rolling submission regulatory pathway, and includes data from the Phase 2/3 clinical trial, which began recruiting in late-July 2020, and enrolled approximately 44,000 people across approximately 150 sites in multiple countries.
Pfizer Canada and BioNTech will supply the Government of Canada a minimum of 20 million doses (and up to 76 million doses) of the vaccine through 2021.

Manufacturing and Delivery Capabilities
Pfizer and BioNTech continue to work in collaboration with governments and health authorities around the world to help ensure BNT162b2 can reach those most in need as quickly as possible, subject to country authorization or approval. The companies are taking a phased approach to quickly scale, manufacture and distribute large quantities of the vaccine at high quality, complementing the mRNA manufacturing expertise that BioNTech has gained over almost a decade. Pfizer has a 171-year track record of researching, developing, manufacturing and delivering innovative medicines and vaccines to patients in need. BioNTech will hold the regulatory approvals in the U.K. and Canada, and, if granted, in the U.S., the EU and other countries. Pfizer will have the marketing and distribution rights worldwide with the exception of China, Germany and Turkey.

About Pfizer Canada
Pfizer Canada ULC is the Canadian operation of Pfizer Inc., one of the world's leading biopharmaceutical companies. Our diversified health care portfolio includes some of the world’s best known and most prescribed medicines and vaccines. We apply science and our global resources to improve the health and well-being of Canadians at every stage of life. Our commitment is reflected in everything we do, from our disease awareness initiatives to our community partnerships. To learn more about Pfizer Canada, visit pfizer.ca or you can follow us on LinkedIn, Facebook, Twitter or YouTube

Pfizer Disclosure Notice
The information contained in this release is as of December 9, 2020. Pfizer assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments.

This release contains forward-looking information about Pfizer’s efforts to combat COVID-19, the collaboration between BioNTech and Pfizer to develop a potential COVID-19 vaccine, the BNT162 mRNA vaccine program, and modRNA candidate BNT162b2 (including qualitative assessments of available data, potential benefits, expectations for clinical trials, anticipated timing of clinical trial readouts a

FAQ

What COVID-19 vaccine has been authorized by Health Canada?

Health Canada has authorized the mRNA COVID-19 vaccine BNT162b2 developed by BioNTech and Pfizer.

How many doses of the vaccine will be supplied to Canada?

BioNTech and Pfizer will supply a minimum of 20 million doses of the vaccine to Canada through 2021.

When did Health Canada authorize the emergency use of the vaccine?

Health Canada granted authorization for the vaccine on December 9, 2020.

What is the stock symbol for BioNTech?

The stock symbol for BioNTech is BNTX.

What was the basis for Health Canada's decision on the vaccine?

Health Canada's decision was based on data from a Phase 2/3 clinical trial involving approximately 44,000 participants.

BioNTech SE American Depositary Share

NASDAQ:BNTX

BNTX Rankings

BNTX Latest News

BNTX Stock Data

24.91B
90.26M
62.31%
20.65%
0.84%
Biotechnology
Healthcare
Link
United States of America
Mainz