The U.K. has secured two million more doses of COVID-19 vaccine from Moderna Inc MRNA 16.35% and is expected to approve the vaccine made by Pfizer Inc PFE 2% and BioNTech SE - ADR BNTX 4.79% this week.

What Happened:

Moderna is to provide another two million vaccines to the U.K., in addition to a previous 5 million doses, Reuters has reported.

Trial data has shown the vaccine is 94.5% effective. It is not expected to be available in Europe until spring at the earliest.

Why It Matters: 

Britain is gathering speed in executing a vaccine plan. It is on track to become the first Western country to deploy a COVID-19 vaccine, according to the Financial Times.

The BioNTech-Pfizer vaccine is expected to get approval from the country's Medicines and Healthcare products Regulatory Agency “within days,” FT reports.

Once approved, the companies would start the deliveries “within hours,” and injections could begin as early as Dec. 7.

The U.K. has already secured 40 million doses of this vaccine.

“With a wide range of vaccine candidates in our portfolio, we stand ready to deploy a vaccine should they receive approval from our medicines regulator, starting with those who will benefit most,” the U.K.’s health minister said.

Price Action: 

Moderna shares rose by 1.08% and closed at $128.40 in the after-hours session. Pfizer stock traded at $37.27, with a 0.11% increase in the after-hours markets on Friday. BioNTech fell by 0.082% and closed at $109.90.