The new Coronavirus vaccine developed by Pfizer and BioNTech has reported 95 per cent of efficacy after final tests and would be submitted for approval to regulatory agencies within the next few days.

The United States pharmaceutical giant and its German partner said phase three of the vaccine trial was now complete and shows that it is 95 per cent effective in preventing symptomatic COVID-19, which is five per cent up from the 90 per cent announced last week.

The trial state the company said recorded no serious side effects among the 41,135 adults, who received two doses. The most common reactions were that 3.7 per cent of participants experienced fatigue and two per cent had a headache.

Already, nations around the world are racing to lay their hands on the novel vaccine, which may remain unavailable to most countries due to availability and logistical challenges.

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