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Summary
- Pfizer’s Covid-19 vaccine candidate indicated more than 90 per cent efficacy against the disease
- Chairman and CEO Dr. Albert Bourla said that it is a great day for all the scientists and humans globally
- CEOs of major cruise operators cheered the news of Pfizer’s vaccine efficacy
- Stocks of cruises like Carnival, Norwegian Cruise, and Royal Caribbean rallied, gaining more than 30 per cent
The coronavirus pandemic has had a devastating effect on the travel, tourism, and hospitality industry. While all the nations worldwide are actively battling the deadly disease, societies and industries are desperately looking forward to rebuilding the deteriorated economic scenario and re-emerging from the crisis.
Despite the fact that the travel industry’s recovery process is considered to be complicated and lengthy, the sector has rejoiced the news of Covid-19 vaccine’s effectiveness.
Pfizer’s Announcement
The entire travel industry witnessed massive gains in pre-market trading that continued through the day on 9 November. Pharma giant Pfizer, the pharma giant and BioNTech came up with the joint statement claiming that early data of its vaccine candidate indicated that it was more than 90 per cent effective, surpassing the expected results.
The data was monitored and analysed by an external and independent committee. In the first interim efficacy test, the results proved that the vaccine which is in its phase three clinical study is 90 per cent effective. Of the total of 43,538 participants for the vaccine trial, 94 candidates with confirmed Covid-19 infections were evaluated for the analysis.
US Pharma major Pfizer and its Germany-based counterpart BioNTech said the individuals who were vaccinated indicated an efficiency of above 90 per cent after the intake of a second dose within seven days. This further points out the fact that safety against the Covid-19 infection can be accomplished within 28 days after the initial vaccination. The vaccine comprised of a 2-dose schedule.
The company pointed out that as the safety and additional data were being continuously collected, there might be a difference in the final vaccine efficacy percentage. However, it is hoped that the coronavirus vaccine turned out to be at least 75 per cent effective. White House coronavirus advisor Dr. Anthony Fauci said a vaccine with around 50-60 per cent efficacy rate would be acceptable.
The vaccine could be available by late December for limited use and is expected to be widely available by Q3 2021 said Dr. Scott Gottlieb, who is on the Pfizer medical board.
Travel stocks up
10 November brought some positive news in the travel industry with cruise stocks surging above 20 per cent following the recent progress of the coronavirus vaccine development. Among the three big cruise operators of the US, Carnival plc (LON:CCL), the largest operator’s stocks were trading above 30 per cent at $18.
Other stocks, Royal Caribbean Cruises Ltd (LON:0I1W) was trading above 25 per cent and at about $75, and Norwegian Cruise Line Holdings (LON:NCLH) moved up 20 per cent to roughly $21.
The news not just cheered these three stocks, but other cruise lines also witnessed a surge in their stock prices.
Let’s take a look at the current stock price performance of two prominent cruise stocks.
Carnival plc
The stocks of Carnival plc. were trading at GBX 1,176.00 on 10 November, at 3:05 PM, 4.35 per cent lower from its previous close of GBX 1,229.50. The stock’s 52-week low/high price was ranging from GBX 605.00 to GBX 3,712.00. CCL had total market capitalisation (Mcap) of £2,245.96 million. In the previous ten months, the company has recorded a negative return on price of 66.30 per cent.
Royal Caribbean Cruises Ltd
The stocks of Royal Caribbean Cruises Ltd were trading at GBX 78.01 on 10 November 2020, at 3:13 PM, 8.01 per cent above from its previous close of GBX 72.22. In the previous ten months, the company had recorded a negative return on price of 40.19 per cent.
