The world rejoiced after Pfizer and BioNTech released a statement claiming that their corona vaccine is ninety percent effective against the coronavirus.

The company’s CEO also stated that the vaccine will not only help people remain healthy against the virus, but will also aid in boosting the global economy.

The coronavirus affected the US economy in the same manner as it did to the economies of several other countries. Millions of people lost their jobs and the unemployment rate is still rising. Many businesses have shut down and organizations have gone bankrupt due to the rampant virus.

Vaccine Will Not Be An ‘Instant Stimulus’ to the U.S. Economy, Claims EconomistsNow, with the announcement of a vaccine, people are hopeful that there are better times ahead. Experts had been hoping for a vaccine that could at least prevent the chances of getting the virus up to seventy-five percent. Pfizer has claimed that its vaccine is ninety percent effective.

While the announcement helped the stocks surge in the US, experts believe that it will take a long time for the economy to recover from the destruction it faced due to the pandemic.

According to Dr. Scott Gottlieb, a former FDA official, and Pfizer’s board member, the vaccine would be available to a limited amount of people by the end of this year. On the other hand, it is predicted that the vaccine will be made available in a large amount by late next year.

In light of the current projections, Pfizer and BioNTech hope to deliver up to 50 million antibody portions within this year and up to 1.3 billion dosages in 2021. The antibody requires two dosages for each individual.

Pfizer and Biontech vaccineThe distribution of the vaccine is another question that has been raised. The vaccine needs to be stored at a particular temperature. It needs to be put in cold storage at all times, at a temperature of -94 degrees Fahrenheit.

While the news of the vaccine is highly promising, experts have advised the public to stay patient and wait as they test the vaccine even further to prevent any side effects.