• The first patient enrolled in Pfizer's coronavirus vaccine trial at the University of Maryland School of Medicine receives his first shot in May 2020. On Monday, the drug maker said its Phase-3 trials showed it protected 90 per cent of recipients within 28 days of taking the jabs. AP
    The first patient enrolled in Pfizer's coronavirus vaccine trial at the University of Maryland School of Medicine receives his first shot in May 2020. On Monday, the drug maker said its Phase-3 trials showed it protected 90 per cent of recipients within 28 days of taking the jabs. AP
  • Pfizer's headquarters in New York. Shares in the drug maker rose sharply in pre-market trading as news of its breakthrough was released. AFP / Getty
    Pfizer's headquarters in New York. Shares in the drug maker rose sharply in pre-market trading as news of its breakthrough was released. AFP / Getty
  • Reports say Pfizer could produce about 1.3 billion doses by the end of 2021, if the vaccine is approved. Dado Ruvic / Reuters
    Reports say Pfizer could produce about 1.3 billion doses by the end of 2021, if the vaccine is approved. Dado Ruvic / Reuters
  • Germany trial partner BionTech's headquarters in Mainz, Germany. EPA
    Germany trial partner BionTech's headquarters in Mainz, Germany. EPA
  • Reports say Pfizer could produce about 1.3 billion doses by the end of 2021, if the vaccine is approved. Dado Ruvic / Reuters
    Reports say Pfizer could produce about 1.3 billion doses by the end of 2021, if the vaccine is approved. Dado Ruvic / Reuters

Covid vaccine: Breakthrough as Pfizer and BioNTech jab found to offer '90 per cent protection'


Daniel Bardsley
  • English
  • Arabic

Top scientists have reacted positively to early results from drug firms Pfizer and BioNTech that suggest their coronavirus vaccine is more than 90 per cent effective.

The findings – yet to be peer-reviewed – appear to exceed expectations, with reports suggesting that experts thought vaccines would be nearer to 60 or 70 per cent effective.

The data comes from Phase-3 clinical trials that are continuing and further results expected are later this month.

Prof David Taylor, professor emeritus of pharmaceutical and public health policy at University College London, described the results as “a big step towards controlling the pandemic”.

The trial data show excellent results... really impressive protection

He cautioned, however, that the results were preliminary and did not mean that people should abandon social distancing and other measures to prevent spread of the virus.

Should the vaccine be given approval for widespread use, a maximum of about 50m doses would be available this year, with capacity for 1.3bn more to be manufactured in 2021, according to Pfizer and BioNTech, its German pharmaceutical company trial partner.

While reports indicate the vaccine does cause side effects, such as aches and fever, these are not thought to be worse than what is often seen with vaccines.

Professor David Salisbury, an associate fellow at the London think tank Chatham House and former director of immunisation at the UK Department of Health, said “90 per cent is a great result”. He said it remained to be seen how safe the vaccine was and how long the protection it offered lasted.

"Everybody is excited about a vaccine with 90 per cent reported efficacy," he told The National.

Pfizer and BioNTech said there have been 94 Covid-19 cases so far among participants in its Phase-3 clinical trials, in which people are given either the vaccine or a placebo.

The split of cases between those vaccinated and those given the placebo indicated “a vaccine efficacy rate above 90 per cent” seven days after the second dose of the vaccine, which is given 21 days after the first.

The key questions about the Pfizer/BioNTech vaccine candidate had been about the ability to manufacture it at scale and toxicity, according to Prof Ian Jones, a professor of virology at the University of Reading in the UK.

Toxicity was a potential concern because the vaccine consists of messenger RNA (mRNA), a type of genetic material. As yet, no mRNA vaccines have been approved for use in humans.

"The trial data show excellent results in both of those areas, really impressive protection and no reported adverse events," Prof Jones told The National.

“The only things we will not know for some time is the longevity of the response in all age groups, but assuming antibody [levels] are high that should be at least as good as any other vaccine currently in trial.

“More generally this would appear to indicate that this approach has legs and is likely to useful for other emerging diseases.”

The Pfizer and BioNTech vaccine is one of 11 around the world in phase 3 clinical trials, which involve thousands of participants and as well as testing effectiveness, look for rare and potentially harmful side effects.

Other vaccines are expected to report phase 3 data in the coming months, although even before phase 3 trials are completed, some vaccinations programmes have started in China.

Some senior UAE officials and ministers, including Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, have already received a coronavirus vaccine developed by the Chinese company Sinopharm.

The Pfizer/BioNTech Phase-3 clinical trials began in late July and have enrolled 43,538 participants, of whom 38,955 had received a second dose of the vaccine as of Sunday.

Overall 42 per cent of participants globally and 30 per cent of those in the US “have racially and ethnically diverse backgrounds”.

“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,” Dr Albert Bourla, Pfizer’s chairman and CEO, said in a statement.

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

The trial will continue until a total of 164 participants have been confirmed to have had Covid-19. They will also look at how effective the vaccine is at preventing the disease in those who have already had it, and whether the vaccine can prevent severe illness among those infected.

The companies said they hoped to have enough data to apply for an emergency use authorisation for the vaccine from the US Federal Drug Administration in the third week of November.

In total 47 vaccines are in clinical trials, according to the World Health Organisation, with a further 155 in preclinical evaluation, meaning that they have not yet been tested on people.

Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates

Baby Driver

Director: Edgar Wright

Starring: Ansel Elgort, Kevin Spacey, Jamie Foxx, Lily James

Three and a half stars

Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 
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The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

Who was Alfred Nobel?

The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.

  • In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
  • Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
  • Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

MATCH INFO

Syria v Australia
2018 World Cup qualifying: Asia fourth round play-off first leg
Venue: Hang Jebat Stadium (Malacca, Malayisa)
Kick-off: Thursday, 4.30pm (UAE)
Watch: beIN Sports HD

* Second leg in Australia scheduled for October 10

The Settlers

Director: Louis Theroux

Starring: Daniella Weiss, Ari Abramowitz

Rating: 5/5

Essentials
The flights

Return flights from Dubai to Windhoek, with a combination of Emirates and Air Namibia, cost from US$790 (Dh2,902) via Johannesburg.
The trip
A 10-day self-drive in Namibia staying at a combination of the safari camps mentioned – Okonjima AfriCat, Little Kulala, Desert Rhino/Damaraland, Ongava – costs from $7,000 (Dh25,711) per person, including car hire (Toyota 4x4 or similar), but excluding international flights, with The Luxury Safari Company.
When to go
The cooler winter months, from June to September, are best, especially for game viewing. 

Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

THE BIO

Bio Box

Role Model: Sheikh Zayed, God bless his soul

Favorite book: Zayed Biography of the leader

Favorite quote: To be or not to be, that is the question, from William Shakespeare's Hamlet

Favorite food: seafood

Favorite place to travel: Lebanon

Favorite movie: Braveheart

Tearful appearance

Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday. 

Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow. 

She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.

A spokesman said her upset demeanour was due to a personal matter.

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Manchester City 4
Otamendi (52) Sterling (59) Stones (67) Brahim Diaz (81)

Real Madrid 1
Oscar (90)

The biog

Alwyn Stephen says much of his success is a result of taking an educated chance on business decisions.

His advice to anyone starting out in business is to have no fear as life is about taking on challenges.

“If you have the ambition and dream of something, follow that dream, be positive, determined and set goals.

"Nothing and no-one can stop you from succeeding with the right work application, and a little bit of luck along the way.”

Mr Stephen sells his luxury fragrances at selected perfumeries around the UAE, including the House of Niche Boutique in Al Seef.

He relaxes by spending time with his family at home, and enjoying his wife’s India cooking.