UK set to approve Pfizer-BioNTech coronavirus vaccine from December 7 – FT

Dhwani Mehta FXStreet

The Medicines and Healthcare Products Regulatory Agency (MHRA), the UK’s medical regulator, is likely to give a green signal to the coronavirus vaccine co-developed by BioNTech SE and Pfizer Inc from December 7, the Financial Times (FT) reported, citing unnamed sources.

The vaccine deliveries would begin within hours of the authorization, the sources added.

The government asked the regulator on Friday to assess AstraZeneca Plc’s vaccine for a possible rollout.

Among other vaccine updates, the British government has secured two million doses of Moderna Inc’s COVID-19 vaccine candidate, to be available in Europe as early as the spring, according to a statement released by the No. 10.

The covid vaccines have shown over 90% efficacy to prevent infections in their respective late-stage trials.

Market implications

The positive developments around the coronavirus vaccine are likely to bode well for the risk sentiment and the pound, as the EU-UK push towards reaching a Brexit trade deal as early as the next week.

The European Commission has started to “lean on” EU negotiator Michel Barnier to reach a deal with the UK, raising hopes that an agreement could come, The Times reported on Saturday, citing a UK source.

Both sides are trying hard to find a common ground, as the three main issues of contention continue to linger - fishing, state aid and how to resolve any future disputes.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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