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The U.K. on Wednesday became the first country to authorize the Pfizer-BioNTech vaccine for emergency use. The development has many hopeful the vaccine could soon be approved in the U.S. Here’s how a vaccine rollout could work in the U.S., and what it means for businesses. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi

The U.K. on Wednesday became the first country to authorize the Pfizer-BioNTech vaccine for emergency use, marking another step in the global battle against the pandemic.

The vaccine will now be rolled out in the country next week, with elderly people in care homes and medical workers first in line. The U.K. government is the first in the world to formally approve the U.S.-German vaccine for widespread use, and it means Britain will be one of the first countries to begin vaccinating its population. Emergency use approval in the United States is under review by the Food and Drug Administration.

The government has today accepted the recommendation from the independent Medicines and Healthcare products Regulatory Agency (MHRA) to approve Pfizer-BioNTechs Covid-19 vaccine for use,” the government said Wednesday. “The vaccine will be made available across the U.K. from next week.”

Pfizers Chairman and CEO, Dr. Albert Bourla, said the authorization was ahistoric moment.”

This authorization is a goal we have been working toward since we first declared that science will win, and we applaud the MHRA for their ability to conduct a careful assessment and take timely action to help protect the people of the U.K.,” he said.

With thousands of people becoming infected, every day matters in the collective race to end this devastating pandemic.”

Pfizer and BioNTech announced in July an agreement with the U.K. to supply 30 million doses of its mRNA-based vaccine, formally known as BNT162b2, once authorized for emergency use. That agreement was increased to 40 million doses in early October. As a two-dose vaccine, the U.K. will have enough doses to vaccinate around a third of its 66 million population.

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BioNTech said Wednesday that the delivery of the 40 million doses will occur throughout 2020 and 2021, with complete delivery fulfilment expected next year.

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What U.K. approval of Pfizer's Covid-19 vaccine could mean for the U.S.

The U.K. on Wednesday became the first country to authorize the Pfizer-BioNTech vaccine for emergency use. The development has many hopeful the vaccine could soon be approved in the U.S. Here's how a vaccine rollout could work in the U.S., and what it means for businesses. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi

The U.K. on Wednesday became the first country to authorize the Pfizer-BioNTech vaccine for emergency use, marking another step in the global battle against the pandemic.

The vaccine will now be rolled out in the country next week, with elderly people in care homes and medical workers first in line. The U.K. government is the first in the world to formally approve the U.S.-German vaccine for widespread use, and it means Britain will be one of the first countries to begin vaccinating its population. Emergency use approval in the United States is under review by the Food and Drug Administration.

“The government has today accepted the recommendation from the independent Medicines and Healthcare products Regulatory Agency (MHRA) to approve Pfizer-BioNTech’s Covid-19 vaccine for use,” the government said Wednesday. “The vaccine will be made available across the U.K. from next week.”

Pfizer’s Chairman and CEO, Dr. Albert Bourla, said the authorization was a “historic moment.”

“This authorization is a goal we have been working toward since we first declared that science will win, and we applaud the MHRA for their ability to conduct a careful assessment and take timely action to help protect the people of the U.K.,” he said.

“With thousands of people becoming infected, every day matters in the collective race to end this devastating pandemic.”

Pfizer and BioNTech announced in July an agreement with the U.K. to supply 30 million doses of its mRNA-based vaccine, formally known as BNT162b2, once authorized for emergency use. That agreement was increased to 40 million doses in early October. As a two-dose vaccine, the U.K. will have enough doses to vaccinate around a third of its 66 million population.

BioNTech said Wednesday that the delivery of the 40 million doses will occur throughout 2020 and 2021, with complete delivery fulfilment expected next year.

» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic

Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.

The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7Cpodcast

Connect with CNBC News Online
Get the latest news: http://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
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