Trumpcorrespondents at 5.30 sharp today

By Kazeem Ugbodaga with Agency Report

US President, Donald Trump on Monday said the report that experimental COVID-19 vaccine being developed by Pfizer Inc and its partner BioNTech, is 90 percent effective is a great news.

Pfizer Inc and its partner BioNTech had on Monday said their experimental vaccine has proven more than 90% effective in preventing COVID-19 based on initial data from a large study.

Trump, who is battling in court to overturn the victory of Joe Biden in the US presidential election, tweeted that the report is a great news.

Trump said COVID-19 vaccine is coming soon and that it is a great news that the vaccine is also 90 percent effective.

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The American president also hailed the nation’s stock market, which he said is moving up astronomically.

The announcement by Pfizer Inc and its partner BioNTech on Monday, represents a major victory in the fight against a pandemic that has killed over 1.2 million people, roiled the world’s economy and upended daily life.

Pfizer and the German partner BioNTech SE are the first drugmakers to show successful data from a large-scale clinical trial of a coronavirus vaccine.

The companies said they have so far found no serious safety concerns and expect to seek U.S. emergency use authorisation later this month.

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If authorised, the number of vaccine doses will initially be limited.

Many questions also remain including how long the vaccine will provide protection.

However the news provides hope that other vaccines in development against the novel coronavirus may also prove effective.

“Today is a great day for science and humanity,” Albert Bourla, Pfizer’s chairman and chief executive, said in a statement.