(Reuters) – Rating agency Moody’s Investors Service said on Sunday that Pfizer Inc’s U.S. COVID-19 vaccine authorization is credit positive.
“The approval is credit positive because of incremental profit and cash flow from sales of the vaccine,” Moody’s said https://bit.ly/2Lx7CeW. “The revenue and profit opportunities for Pfizer are significant because it has priced the vaccine at a profit.”
The Pfizer/BioNTech vaccine in a large clinical trial was 95% effective in preventing illness. U.S. regulators late on Friday authorized emergency use of the vaccine, following similar moves by the UK and Canada.
(Reporting by Kanishka Singh in Bengaluru; Editing by Daniel Wallis)