News in Legislation

• Legal regulation of shares in profit and other corporate resources according to a significant amendment to the BCA 
   

Since Pfizer and our collaboration partner, BioNTech, begun our mission to develop a COVID-19 vaccine, safety has been our guiding principle every step of the way.

At the same time, given the urgency of the global pandemic, we continue to move at record-breaking speed. We recently started the phase 2/3 safety and efficacy trial for our lead vaccine candidate, approximately three months after we started the phase 1/2 safety and immunogenicity trials in Germany and the United States for our four initial vaccine candidates.  Progressing from the start of clinical testing for a vaccine candidate in small numbers of trial participants to a large-scale efficacy trial is a process that can usually take years, sometimes even a decade.

As COVID-19 continues to change lives across the globe, many employers are wondering what effects the pandemic will have on industries, jobs and the workforce over the near and long term.

The severity of these impacts will depend on the duration of the pandemic and the effectiveness of the solutions and government actions taken to handle the crisis. Initial data already indicates which industries are being impacted most and how the pandemic is set to potentially alter the labor landscape over the long term. Corporations should be mindful of these impacts and thoughtful about how the shifting labor landscape informs their short- and long-term location strategies.

With the economic downturn brought about by the COVID-19 pandemic, companies face the challenge of determining whether they should modify their transfer pricing policies. The decision has to be made at a time when comparable data necessary for the analysis are not yet available. At the moment, relying on prior-year data and three-year averages of financial results of comparable companies may not be an appropriate method of setting intra-group prices.