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FDA approves Pfizer-BioNTech COVID vaccine

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The FDA has approved the first COVID-19 vaccine. Yahoo Finance breaks down the details.

Video Transcript

JULIE HYMAN: Just want to bring you a quick mover as we take you to break. And that is Pfizer, along with its manufacturing and development partner, BioNTech of Germany, as well as Moderna. And we're watching all of these stocks because now, according to the Washington Post, the Food and Drug Administration has, indeed, granted full approval to Pfizer's coronavirus vaccine, which, again, it developed in cooperation with BioNTech.

Both of those stocks are surging. This was as expected either today or tomorrow, as had been reported over the weekend. And again, the Washington Post is saying that approval has come. Moderna's approval not come yet, but it is expected that it will, indeed, also get beyond that emergency authorization use to be approved fully. We'll be talking about this a bit more later in the program.