It works! Pfizer's COVID-19 vaccine hits 90% efficacy

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Pfizer is just days away from seeking emergency authorisation of its COVID-19 vaccine after the company announced it has been 90 per cent effective in late-stage trials.

Pfizer is developing the vaccine with BioNTech.

CEO Albert Bourla announced the efficacy result in an open letter. 

"The vaccine candidate was found to be more than 90% effective in preventing COVID-19 in participants without evidence of prior SARS-CoV-2 infection in the first interim efficacy analysis," he said.

"The results demonstrate that our mRNA-based vaccine can help prevent COVID-19 in the majority of people who receive it. This means we are one step closer to potentially providing people around the world with a much-needed breakthrough to help bring an end to this global pandemic."

Mr Bourla said the requirement for two months of safety data following the second and final dose of the vaccine means it could submit for emergency authorisation in the US next week.

The TGA has designated the vaccine for provisional approval and the government recently announced an agreement to procure ten million doses of the mRNA candidate.