Brazilian markets soar with encouraging vaccine news

. Nov 09, 2020
pfizer vaccine coronavirus

The Brazilian stock exchange Ibovespa is set for a stellar opening today, as Ibovespa futures jumped 3.6 percent after news that Pfizer and BioNTech’s potential Covid-19 vaccine BNT162b2 showed 90-percent efficiency in tested patients.

The Brazilian Real has gained over 2 percent against the U.S. Dollar, with the American currency being traded in the country at BRL 5.26. Negative variations were also seen in the bonds market.

Good news about potential vaccine

An independent report on late-stage Pfizer vaccine trials showed an efficacy rate of above 90 percent seven days after a second dose. This would suggest protection against the virus is achieved four weeks after the first vaccination. 

The drugmakers will now submit the vaccine for Emergency Use Authorization (EUA) by the U.S. Food and Drug Administration, hoping for approval in the third week of November.  

Pfizer and BioNTech said that no serious safety concerns have been observed among the studies’ 43,538 participants, but additional efficacy and safety data are still being collated. As we reported earlier in July, 5,000 candidates in the Brazilian states of Bahia and São Paulo took part in the BNT162b2 trials.

Based on projections, the companies expect to supply up to 50 million doses globally in 2020, and manufacture up to 1.3 billion doses in 2021.

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Natália Scalzaretto

Natália Scalzaretto has worked for companies such as Santander Brasil and Reuters, where she covered news ranging from commodities to technology. Before joining The Brazilian Report, she worked as an editor for Trading News, the information division from the TradersClub investor community.

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