Moody's says Pfizer's US Covid-19 vaccine authorization is credit positive

A vial of the Pfizer/BioNTech COVID-19 vaccine is seen ahead of being administered at the Royal Victoria Hospital, on the first day of the largest immunisation programme in the British history, in Belfast, Northern Ireland December 8, 2020. Credit: REUTERS

Rating agency Moody's Investors Service said on Sunday that Pfizer Inc's US Covid-19 vaccine authorization is credit positive.

"The approval is credit positive because of incremental profit and cash flow from sales of the vaccine," Moody's said. "The revenue and profit opportunities for Pfizer are significant because it has priced the vaccine at a profit."

The Pfizer/BioNTech vaccine in a large clinical trial was 95% effective in preventing illness. US regulators late on Friday authorized emergency use of the vaccine, following similar moves by the UK and Canada.