STA-STGT dropped more than 16% in the morning session after pharmaceutical companies Pfizer and BioNTech announced their coronavirus vaccine is 90% effective.
As of 11:20 local time in Thailand, the share price of Sri Trang Agro-Industry Public Company Limited (STA) plunged ฿5.00/share or 16% to ฿26.25/share with a trading value of 1,106 million baht.
The share price of Sri Trang Gloves (Thailand) Public Company Limited (STGT) slumped ฿15.00/share or 17.14% to ฿72.50/share with a trading value of 2,983 million baht.
Pfizer Inc, the U.S. pharmaceutical company, and German pharmaceutical company BioNTech announced earlier today that the results of the experiment indicate that the coronavirus vaccine, jointly developed by the two companies, is more than 90% effective against Covid-19 for those who have never been infected before.
Pfizer Inc will register a vaccine to the U.S. Food and Drug Administration (FDA) next week which expects that 50 million doses of the vaccine will be produced by 2020 and another 1.3 billion doses by 2021.