in 1942, winston churchill delivered a famous speech when british troops defeated rommel’s forces at alamein, a much needed victory that marked a key turning point in the ultimate defeat of germany.
he said, ”now this is not the end. it is not even the beginning of the end. but it is, perhaps, the end of the beginning.” there were three more years of war and hardship before ultimate victory came, but this battle showed a weary people that the war could, and would, be won. we hope our war with covid-19 can end much sooner.
with the positive results of the pfizer/biontech se vaccine, a weary world prays that this represents the end of the beginning of our fight against covid-19. the news led to a surge in stock market valuations especially for stocks beaten down by the pandemic. how excited should we be?
what we do and don’t know
the vaccine is completing phase 3 trials in a large randomized group of volunteers, large enough to detect more frequently occurring major side effects and complications. to date, it appears relatively safe with many getting the benign and usual mild flu-like symptoms associated with many vaccines.
it also appears to be effective in preventing infection in most vaccine recipients. this result was hastened by the surge of infected people in the countries where the studies were carried out. thus, a major reduction in spontaneous covid-19 infection in the treatment versus control group was documented earlier than expected. this proves vaccine efficacy in the group vaccinated.