Why BioNTech Stock Is Jumping Today

Shares of BioNTech (NASDAQ: BNTX) were jumping 10.6% higher as of 12:23 p.m. EDT on Monday. The big gain came after Pfizer (NYSE: PFE) stated that it's in discussions with the government of India about accelerating authorization of the partners' COVID-19 vaccine.

Pfizer CEO Albert Bourla stated on Monday, "We are currently discussing with the Indian government an expedited approval pathway to make our Pfizer-BioNTech vaccine available for use in the country." Although Pfizer and BioNTech submitted the COVID-19 vaccine for Emergency Use Authorization (EUA) in India in late 2020, the Indian government's requirement of a safety study conducted in the country prompted the two drugmakers to withdraw the application in February.

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