PORTAGE, Mich. — Pfizer announced on Monday that early analysis of its vaccine shows it's more than 90% effective.
The CEO called the vaccine a "game-changer".
It's been about 10 months since Pfizer started working on developing a COVID-19 vaccine, manufacturing it in Kalamazoo County.
Now, it's in Phase 3 of clinical trial and Pfizer's CEO said he is optimistic about its potential.
"Right now in the U.S. we have 100,000 victims of COVID everyday and 1000 deaths everyday. I can’t count how many people are losing their jobs everyday, so it’s a very important day for humanity," said Pfizer's Chief Executive Officer Dr. Albert Bourla.
It's a critical milestone that Dr. Bourla said came at a time when the world needs it most.
“90% is a game-changer, 90% now we're hoping to have a tool in your war against this pandemic that would be significantly effective," said Dr. Bourla.
Pfizer said analysis showed its COVID-19 vaccine to be more than 90% effective in preventing the virus in participants without evidence of prior infection.
The study enrolled over 43,000 participants of various backgrounds with phase 3 beginning at the end of July.
"What do we know so far? It is that we don’t have any safety concern. We need to wait until the results are there. What do we know so far is that we are able to manufacture millions of doses. We need to make sure that we manufacture hundreds of millions of doses but all of these are things that are under our control," said Dr. Bourla.
The vaccine consists of a two-dose schedule with protection reportedly coming 28 days after the initiation of the first vaccine.
For those interested in getting it in the future, there is good news.
"I think it is going to be free. We are giving it to the government at a quite low price. I think every American will have access to it," said Dr. Bourla.
Based on current projections, the company expects to produce up to 50 million vaccine doses in 2020 and up to 1.3 million doses in 2021.
The trial is now headed into final analysis and will require approval of the FDA before it becomes available. That approval likely won't be until next year.
Although, Pfizer does plan to submit to the FDA for emergency use later this month.