UK Government Expects Verdict On Pfizer's Vaccine Before Christmas: Report

Senior sources in the British government expect a verdict on Pfizer Inc's (NYSE: PFE) COVID-19 vaccine results, before AstraZeneca Plc's (NASDAQ: AZN) trials, according to a report from the Sunday Times.

What Happened: Pfizer's vaccine is being developed in collaboration with German company BioNTech SE (NASDAQ: BNTX). Reportedly, the British government believes that the vaccine could be out for distribution before Christmas if approved for emergency use authorization.

After collating the safety data from trials, the pharma giant plans to seek emergency approvals from U.S. regulators sometime towards the end of November, Reuters noted.

The United Kingdom government has already sourced 20 million doses. It is also willing to supply deals for six other vaccine candidates, according to Livemint. The six candidates include both Pfizer's and AstraZeneca's vaccines.

Pfizer can provide 40 million doses this year in the U.S.

Why Does It Matter: AstraZeneca's AZD1222 vaccine is co-created with the University of Oxford. A report from the Wall Street Journal earlier this week claimed that AZD1222 showed a favorable response in the elderly. 

AZD1222 clinical trial outcomes are anticipated by late 2020. 

Price Action: PFE shares closed lower by 5.29% to $35.45, and AZN shares fell by 2.86% to $50.98 on Wednesday.