Pfizer, Moderna COVID-19 Vaccines Could Get Limited EU Approval Before Year-End: Report

In an attempt to “synchronize” COVID-19 vaccine distribution at par with the U.S., the European Union is deliberating the idea of granting  Pfizer Inc PFE-BioNTech SE (NASDAQ: BNTX) and Moderna Inc (NASDAQ: MRNA), a conditional marketing authorization, Bloomberg reports.

What Happened: The European authority is holding constant talks with the U.S. Food and Drug Administration to evaluate and assess the vaccine’s efficacy, Ursula von der Leyen, President of the European Commission, told Bloomberg.

Both companies could receive approval for marketing their COVID-19 vaccine as early as the second half of December.

According to Reuters, the E.U. could pay over $10 billion for securing millions of COVID-19 vaccine doses of Pfizer-BioNTech and CureVac BV CVAC.

Why Does It Matter: Europe is witnessing a fresh wave of coronavirus infections, and regulators are compelled to step up lockdown measures, much to the dismay of the E.U. residents. Fast-tracking vaccine testing and streamlining supply and distribution channels could play an integral role in controlling infection pools and the impending financial uncertainty due to lockdowns.

In October, the U.K. government disclosed that it could distribute BioNTech-Pfizer co-produced vaccine before Christmas subject to an emergency use authorization.

Meanwhile, yesterday’s reports claim that Pfizer may file an application with the FDA for the emergency use of its COVID-19 vaccine.

Price Action: In the pre-market session on the last check Friday, PFE shares are trading higher by 1.63% at $36.78, BNTX shares are higher by 5.37% at $100.03, MRNA shares are up by 4.34% to $96.80, and CVAC shares have gained 3.52% at $77.85.