The first effective coronavirus vaccine can prevent more than 90% of people from getting Covid-19, according to a preliminary analysis.
Pfizer and BioNTech described it as a “great day for science and humanity”.
Their vaccine has been tested on 43,500 people in six countries and no safety concerns have been raised.
US President Elect, Joe Biden also issued a statement on the historic discovery.
“I congratulate the brilliant women and men who helped produce this breakthrough and to give us such cause for hope,” President Elect, Joe Biden said.
The companies plan to apply for emergency approval to use the vaccine by the end of the month.
A vaccine – alongside better treatments – is seen as the best way of getting out of the restrictions that have been imposed on all our lives.
There are around a dozen in the final stages of testing – known as a phase 3 trial – but this is the first to show any results.
It uses a completely experimental approach – that involves injecting part of the virus’s genetic code – in order to train the immune system.
Previous trials have shown the vaccine trains the body to make both antibodies – and another part of the immune system called T-cells to fight the coronavirus.