COVID-19 update | Pfizer-BioNTech vaccine candidate more than 90% effective — read Pfizer boss Albert Bourla's full statement here

While the global COVID-19 tally has crossed 50 million and fatalities hit 1.2 million, American multinational pharmaceutical corporation Pfizer on November 9 claimed that its vaccine data suggests that the shots may be 90 percent effective at preventing the pandemic.

Following the reports of a 90 percent successful vaccine trial by Pfizer and German biotech firm BioNTech, Pfizer Chairman and CEO Dr Albert Bourla released a statement.

Pfizer's COVID-19 vaccine is over 90% effective, shows data

Read Dr Albert Bourla's full statement here:

"Today is a great day for science and humanity. The first set of results from our Phase 3 COVID-19 vaccine trial provides the initial evidence of our vaccine’s ability to prevent COVID-19.

We are reaching this critical milestone in our vaccine development program at a time when the world needs it most with infection rates setting new records, hospitals nearing over-capacity and economies struggling to reopen.

With today’s news, we are a significant step closer to providing people around the world with a much-needed breakthrough to help bring an end to this global health crisis. We look forward to sharing additional efficacy and safety data generated from thousands of participants in the coming weeks.

I want to thank the thousands of people who volunteered to participate in the clinical trial, our academic collaborators and investigators at the study sites, and our colleagues and collaborators around the world who are dedicating their time to this crucial endeavor.

We could not have come this far without the tremendous commitment of everyone involved.

The first interim analysis of our global Phase 3 study provides evidence that a vaccine may effectively prevent COVID-19. This is a victory for innovation, science and a global collaborative effort.

When we embarked on this journey 10 months ago this is what we aspired to achieve. Especially today, while we are all in the midst of a second wave and many of us in lockdown, we appreciate even more how important this milestone is on our path towards ending this pandemic and for all of us to regain a sense of normality.

We will continue to collect further data as the trial continues to enroll for a final analysis planned when a total of 164 confirmed COVID-19 cases have accrued. I would like to thank everyone who has contributed to make this important achievement possible."