Why Shares of Pfizer Are Rising Today

Pfizer (NYSE: PFE) was up 1.6% late this morning after the company -- along with partner BioNTech (NASDAQ: BNTX) -- indicated it will begin seeking authorization for a COVID vaccine booster next month. The push is on as the Delta variant becomes the dominant strain of the virus in more regions.

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Although both companies have indicated the boosters would be needed, it's the first official move toward making the extra jabs a reality. The pair cited a statement from Israel's health ministry claiming the vaccine's efficacy declined six months after vaccination. That contradicts findings in the U.K., where officials said the Pfizer-BioNTech vaccine was 88% effective at preventing symptomatic infection from the Delta variant of the SARS-CoV-2 virus.

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Source Fool.com