Vaccine firms’ shares surge after Europe battered by rising Covid cases
Pharmaceutical companies behind coronavirus vaccines saw shares lift on Monday, against a backdrop of rising infections in Europe.
Moderna and Novavax shares were both up 8 per cent after countries on the continent have cracked down on soaring infections in recent days.
BioNTech saw a jump of 10 per cent while Pfizer marked a 1 per cent rise, after the duo declared their vaccine was effective in teenagers aged 12 to 15 years, with no major safety concerns.
The FDA authorised Moderna’s and Pfizer’s Covid vaccine booster shots for all U.S. adults on Friday, in another boost for the firms.
It comes as Germany’s health minister said everyone in the country would either “be vaccinated, recovered or dead,” by the end of this winter.
The nation has one of the lowest vaccination rates in Western Europe with 68 per cent of people fully vaccinated.
Fresh restrictions have sweeped Europe, with some countries moving to ban unvaccinated people from public venues.
Demonstrators marched in Brussels after Belgium introduced Covid passes while people are also instructed to work from home for the majority of the week until mid-December.
There has also been unrest in the Netherlands after leaders introduced a three-week partial lockdown where bars and restaurants have to close at 8pm and crowds are banned at sports events.