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Market Chatter: Pfizer Withdraws Emergency-Use Application for COVID-19 Vaccine in India

· 02/04/2021 23:15

04:12 AM EST, 02/05/2021 (MT Newswires) -- Pfizer (PFE) has withdrawn its application with India's drugs regulator seeking approval of the COVID-19 vaccine it co-created with BioNTech (BNTX) for emergency use after authorities asked for additional information, Reuters reported Friday.

The drugmaker told the news agency it withdrew its application based on "our understanding of additional information that the regulator may need." It plans to resubmit its application when additional information becomes available in the near future.

India's Central Drugs Standard Control Organisation previously told Pfizer to conduct a small local trial first to determine the safety and efficacy of the vaccine in its citizens who may have a different genetic makeup from those in the Western countries.

Pfizer shares were up 0.03% in recent premarket trading Friday. BioNTech American depositary shares dropped nearly 1%.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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