Monday, November 09, 2020
Too Soon?
Pfizer has announced its COVID-19 vaccine is 90 percent effective, but results have been announced early in the efficacy study. The company says it is a "great day for science and humanity." The question to be answered as research concludes is whether the initial findings hold up. It would be a PR disaster if Pfizer subsequently had to downgrade the vaccine's potency. The stock market is not waiting for a final answer. Dow Futures soared and enthusiasm is on the edge of wild. One hopes the company is accurate in its assessment. The country can't use another disappointment, especially since COVID cases are surging again and hospitals are feeling the strain of thousands of patients and too few beds. Once FDA approval comes, people will still wait for months to get a shot and reality will set in.
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