Here’s what you need to know about the Moderna vaccine announcement

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U.S. biotech firm Moderna on Monday announced its experimental vaccine against Covid-19 was nearly 95 percent effective, marking a second major breakthrough in the quest to end the pandemic.

Still, if the Food and Drug Administration allows emergency use of Moderna's or Pfizer's candidates, there will be only limited, rationed supplies before the end of the year.

"Positive interim analysis from our Phase 3 study has given us the first clinical validation that our vaccine can prevent Covid-19 disease, including severe disease", says Stephane Bancel, Moderna's CEO.

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The EU has been in talks with Moderna for its experimental Covid-19 vaccine at least since July, an internal EU document seen by Reuters news agency showed.

What about the Pfizer vaccine?

The company added: "The primary endpoint of the Phase 3 COVE study is based on the analysis of COVID-19 cases confirmed and adjudicated starting two weeks following the second dose of vaccine".

Matt Hancock said the government had made an "initial agreement" with USA firm Moderna for millions of doses after it was earlier revealed that the United Kingdom had not placed any orders for the vaccine.

MRNA technology, is "a really exciting new way to try to prevent disease", Hoge told "Good Morning America".

Meanwhile, only 11 cases were severe and all 11 participants were given a placebo instead of the vaccine.

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The International Monetary Fund (IMF) has forecast that the Indian economy will shrink by 10.3 per cent in the year to March. In addition they will get a one-year moratorium on loans as well as four more years to repay borrowings, Sitharaman said.

Pfizer's vaccine comes in two doses and has to be kept at -94F.

"More tests will be processed more quickly and at a lower cost, and therefore faster turnaround times for test results", the Department of Health and Social Care said in a statement. According to the company, the vaccine can safely be stored for up to six months in a normal freezer, and up to 30 days in a normal refrigerator.

"Once again, I congratulate the brilliant women and men who produced this breakthrough and have brought us one step closer to beating this virus".

Dr. Fauci stressed that administrators and participants in the trial did not know if they were getting the vaccine or a placebo and that an independent Data Safety Monitoring Board (DSMB) looked at the data.

The United Kingdom is expected to get 10 million doses of the BioNTech-Pfizer vaccine - which is given in two doses - by the end of 2020, with a further 30 million doses already ordered.

Watch @SavannahGuthrie's full interview with Dr. Anthony Fauci about the new coronavirus vaccine candidate results from Moderna, battling COVID fatigue, and the importance of a smooth White House transition.

The 95 cases of COVID-19 included several key groups who are at increased risk for severe disease, including 15 cases in adults aged 65 and older and 20 in participants from racially diverse groups.

The agreement with Moderna has passed the exploratory talks stage with the aim of sealing a deal to get around 160m doses for member states. The company believes that the vaccine is well tolerated and there are no reports of significant side effects.

"Our goal is to deliver more than 300 million doses by April next year, which could already have an impact", he said. "It works here with Moderna, it worked with Pfizer". The US government also has an option for another 400 million doses. It is often the case that a vaccine performs less well in the real world than it does in the setting of a clinical trial, experts warn.

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