By Dhirendra Tripathi
Investing.com – Pfizer (NYSE:PFE) and BioNTech (NASDAQ:BNTX) stocks traded higher on a day when the two companies expect a full approval from the Food and Drug Administration fo the Covid-19 vaccine that they have jointly collaborated on.
Shares of the American company traded 3.3% higher in Monday’s premarket while BioNTech exchanged hands 6.3% higher.
There was more news around the companies keeping their shares buzzing. The two companies will supply 35 million more doses to the U.K. under a new contract. The vaccines are to be delivered from the second half of next year.
Moderna (NASDAQ:MRNA), the second of the three American companies whose Covid-19 shots are being administered in the country, is also seeking the FDA’s full approval of its vaccine, though a decision reportedly may take several more weeks.
Stocks of the company were 2.2% higher. Johnson & Johnson (NYSE:JNJ), the third manufacturer, traded 0.5% lower. There’s no word yet on J&J’s plans for a full approval for its shot, the only single-dose vaccine in the world.
Any vaccine being administered currently has only secured the FDA’s emergency use authorization. Full approval would allow manufacturers to market their vaccines directly to consumers, and make it easier for government agencies, companies, institutions and schools to require vaccinations.
In an unrelated development, Pfizer said it will buy Trillium (TSX:TRIL), a clinical stage immuno-oncology company developing innovative therapies for the treatment of cancer. Pfizer has valued the equity of the company at $2.26 billion or $18.50 per share. That price is more than three times Trillium’s Friday closing of $6.09. Trillium stock soared 192% in premarket trading.
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