by Ganesh Sahathevan
A BioNTech-Pfizer funded study published on 31 December 2020 found that two shots of the Pfizer COVID vaccine is 95% effective in preventing INFECTION.That was clearly good news for BioNTech, but the share price has behaved as if the company has come under an evil star.
The reason seems to be this. The study published in the New England Journal Of Medicine defines "EFFICACY " as "INFECTION" not "severe effects", "hospitalisation" or "death". This definition is at odds with the claims made by politicians, and the governments they lead, including the Australian Government, and their civil servants who since mid 2020 changed tune, claiming that they never said the vaccines would prevent infection, but only the more severe symptoms of infection, and the consequences such as hospitalisation, and death.
The 31 December 2020 study published in the New England Journal Of Medicine puts BioNTech-Pfizer's clients, the governments of some of the richest countries in the world who have all but mandated the use of the BioNTech-Pfizer COVID vaccine, in the difficult position where they will now have to explain why the vaccines they have forced on their citizens are not working to prevent infection.
The market can see that problem which has been reflected in BioNTech's share price. The one month fall of 17.15% is obvious, especially the steep fall after the publication of the study. The six month share price shows positive returns, especially after the advent of the omicron variant in November but the downward trend since December is clear to see.
Good news it seems, is not always good.
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