KEY POINTS
  • Pfizer said a final data analysis found its coronavirus vaccine was 95% effective in preventing Covid-19 and, in addition, appeared to fend off severe disease.
  • Two days earlier, Moderna announced that preliminary phase three trial data showed its vaccine was 94.5% effective.
  • The data from the drugmakers raised hopes that the global economy could soon get back to "normal" after the pandemic wreaked havoc on nearly every country across the globe.
A man walks out of a drugstore in Times Square as New York City tries to contain a spike in COVID-19 cases on November 15, 2020 in New York City.

Pfizer and Moderna released positive late-stage trial data this month showing their coronavirus vaccines were highly effective in preventing Covid-19.

The news sent stock markets across the world soaring and gave business executives and world leaders some of the first glimmers of hope that they can bring the epidemic under control and employees back to work.