ETFs to Shine as Pfizer's COVID-19 Vaccine Gets a Nod in Europe

Pfizer Inc. (NYSE:PFE) and BioNTech SE (NASDAQ:BNTX) have again posted encouraging updates regarding their coronavirus vaccine candidate, BNT162b2. The duo’s two-shot vaccine has been given the conditional marketing authorization (CMA) by the European Commission. BNT162b2 is also the first coronavirus vaccine to receive approval in Europe. Notably, Pfizer/BioNTech will immediately initiate delivery of the first vaccine doses across Europe.

Going on, BNT162b2 will be made available for people 16 years of age and above, and will be marketed by the trade name of Comirnaty in 27 EU member states. The companies had filed the CMA in the beginning of this month. Pfizer/BioNTech received the approval on the same day the Committee for Medicinal Products for Human Use of the European Medicines Agency issued a positive opinion recommending CMA of the vaccine, per the sources.

It is worth noting here that the companies have signed an agreement to supply 200 million vaccine doses to EU member states in 2020/2021, with the EU having the option to purchase an additional 100 million doses in 2021. Notably, the vaccine doses will be manufactured at BioNTech's production units in Germany and at a Pfizer site in Belgium.

Pfizer/BioNTech coronavirus vaccine is now approved for emergency/temporary use in more than 40 countries, including United Kingdom, Bahrain, Mexico, Singapore, Switzerland and Canada.

Notably, Pfizer, which was granted emergency use authorization EUA by the FDA on Dec 11, is close to finalizing a deal to supply 100 million more doses of BNT162b2 to the U.S. government, per a BloombergQuint article.

Meanwhile, amid this ongoing health crisis, the discovery of a new COVID-19 strain has taken a toll on investor optimism about the introduction of coronavirus vaccines and another round of fiscal stimulus. This new variant, first discovered in England, has resulted in several nations imposing restrictions on travel from the U.K. However, a CNN report states that Pfizer/BioNTech and Moderna (NASDAQ:MRNA) are testing their coronavirus vaccines for efficacy against the new mutated version of the virus that's been discovered in the U.K. and other countries (per the company statements).

Pfizer and BioNTech’s progress with respect to a coronavirus vaccine has happened at a time when the total number of coronavirus cases has crossed the grim mark of 78 million globally. Notably, the world’s largest economy has seen more than 18 million cases alone. The worsening coronavirus crisis has increased desperation among investors over the introduction of a vaccine or a treatment. In such a scenario, Pfizer’s progress in coronavirus vaccine is going to raise investors’ optimism.

Thus, let’s take a look at ETFs with high exposure to Pfizer that can gain from the recent development:

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Written By: Zacks Investment Research