Pfizer CEO Albert Bourla announced the company’s Covid-19 vaccine could be available by late November. Yahoo Finance’s Anjalee Khemlani weighs in.
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well adam as adam just mentioned here’s a pfizer as well as its german partner by on tech are trading higher today that’s after pfizer said its vaccine won’t be ready in time for the election but it might not be too long afterwards that it applies for approval uh anjali kamlani is here with the latest on where it is in the process anjali thanks julie so what we’re looking at is pfizer basically agreeing to what is more broadly being accepted by the scientific community and by the pharma industry when it comes to the guidelines for the coronavirus vaccine we know that the fda has been pushing and has pushed for a two-month observation period up from one it which is what it was before um and that those details are up for a discussion on october 22nd in an advisory council meeting so we’re waiting to hear uh more about that but it seems like more broadly this has been accepted pfizer initially saying and continuing to commit to that timeline of having initial data ready by the end of this month but uh for the first time saying and agreeing out loud to uh wait to apply for the eua that emergency use authorization by the third week of november which is when it would complete um you know that off that observational window so definitely waiting to see more on that meanwhile we know moderna has already said repeatedly that by thanksgiving is when they would have their initial data so it really puts it um a little bit behind the game there um and when we’re talking about you know just the the coronavirus uh pandemic right now continues to be a problem as we’re entering the second wave um and while you know all hopes are on the vaccine and the fact that we might get at least one approval or authorization sorry by the end of the year um it still doesn’t uh help what will happen in the coming months when it comes to hospitalizations and testing and so we’re waiting to hear more about that uh but what’s happening right now is uh cms that’s the centers for medicare and medicaid services which sets the reimbursement payments for a lot of services for medicare recently came out with new guidance on lab testing we know that when uh you know hot spots were battling shortages of tests we saw that there was a lot of uh delays and turnaround time and you know health experts criticizing saying that the test results are not useful if they’re more than a week or delayed in any way so cms really clamping down saying that they’re going to cut payments to these clinical labs that process them um possibly to 75 sorry 275 down from 100 if they delay more than two days that’s something that’s of concern now as we’re getting into the second wave and and anticipating really another round of possible shortages even though testing capacity has in fact increased but if the volume gets overwhelming it’s something that is of concern right now honestly that’s really interesting we’ll see if that kind of penalization actually works to speed up the testing quick question on emergency use authorizations even after pfizer applies then how long does the government typically take to consider one of those requests as quickly as a few weeks to as much as a few months that is what fda officials have previously said on record um the eua is uh takes a little less uh data and information to process and analyze so that’s where the quicker timeline sort of comes into play but when we’re talking about uh you know looking at the full approval that is what will take more months and more data is necessary for that anjali kilani thank you so much
