Pfizer Working On Specialized Vaccine Targeting COVID-19 Delta Variant: CEO

Pfizer Inc. (NYSE: PFE) CEO said the company is working on a specialized vaccine targeting the highly contagious delta variant of COVID-19.

What Happened: “We are making a specialized vaccine for Delta. I am almost certain that we will not need it because the booster shot of the current vaccine is very, very, very effective against Delta,” Pfizer CEO Albert Bourla said in an interview with NBC News’ Lester Holt on Monday.

Bourla defended the need for the booster shot, citing the spread of the delta variant and also due to immunity starting to wane after six months.

See Also: How To Buy Pfizer (PFE) Stock

Why It Matters: Earlier on Monday, the COVID-19 vaccine developed by Pfizer and its German partner BioNTech SE (NASDAQ: BNTX) became the first vaccine to receive full approval from the U.S. Food and Drug Administration.

Pfizer could now seek approval for a third dose of the COVID vaccine as a booster shot, as it has received full approval. The U.S. government has suggested that after Sept. 20, fully vaccinated individuals should prepare to receive a booster dose, eight months after the second dose.

Price Action: Pfizer shares closed almost 2.5% higher in Monday’s trading at $49.93.

Read Next: Pfizer, Alibaba, Nvidia, Moderna, Palantir — Stocks Buzzing On WallStreetBets Heading Into New Week