Breaking: FDA Fully Approves Pfizer Covid Vaccine

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The Food and Drug Administration granted Pfizer and BioNTech full U.S. approval of their Covid-19 vaccine for people age 16 and older on Monday.

The hope is that the approval will provide a greater number of Americans with confidence in the vaccine and encourage more Americans to get the shots. (Story continues below.)

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Until now, the mRNA vaccine was permitted under Emergency Use Authorization.

The approval is the first of its kind for a Covid-19 vaccine. As such, Pfizer and BioNTech have the distinction of becoming the first in the U.S. to win approval which may provide more schools, universities and businesses the ability to adopt vaccine mandates.

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Shares of Pfizer traded up 4% on the news, gaining $2 per share to trade at $50.72. The ADR for German company BioNTech (BNTX) traded up nearly 9% at $379 per share.

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