UK approves first Covid-19 vaccine, roll-out next week

The UK government has approved a first Covid-19 vaccine today and said limited supply will be made available from next week.

The government has accepted a recommendation from the country's medicines regulator, the MHRA, to authorise a vaccine developed by US pharmaceutical firm Pfizer and Germany's Biontech.

"This follows months of rigorous clinical trials and a thorough analysis of the data by experts at the MHRA who have concluded that the vaccine has met its strict standards of safety, quality and effectiveness," the government said.

Pfizer said last month that final phase-3 testing showed the vaccine to be 95pc effective. The MHRA assured that no corners have been cut in the approval of the vaccine, and said overlapping trial phases allowed for its development to be accelerated.

NHS England said it will begin offering the vaccine across the country in the coming weeks and months, but supply will be limited at first, with the most vulnerable and health and care workers taking priority.

The devolved administrations in Scotland and Wales said they are ready to start vaccinations as soon as supplies arrive.

Oil prices have gained support from a succession of vaccine-related announcements in recent weeks, with hopes for a recovery in global oil demand broadly dependent on the widespread availability of Covid-19 jabs. But until mass vaccination programmes are rolled out globally, virus-related restrictions will likely remain the norm. The IEA warned last month that global oil demand is unlikely to get a significant boost from Covid vaccines until well into next year.

Today's announcement makes the UK the first country in the world to have a clinically approved vaccine for supply, health secretary Matt Hancock said. The EU said yesterday that it has received an application for the Pfizer-Biontech vaccine, and that a decision on its authorisation could be taken within weeks.

By Caroline Varin

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