Pfizer, BioNTech say COVID-19 vaccine found to be over 90% effective

Pfizer and BioNTech said that the potential COVID-19 vaccine they are developing has been found to be more than 90% effective.

"This is a great day for science and humanity," Pfizer chairman and CEO Albert Bourla said.

The study found that 94 out of the 43,500 participants in the phase 3 trials were infected.

It also showed that the vaccine efficacy rate is above 90%, seven days after the second dose. This means that protection is achieved 28 days after the initiation of the vaccination.

However, the percentage of the vaccine efficacy may differ with continued collection of safety data.