In adults aged over 65 years, the observed efficacy was over 94%, with consistent efficacy rates across age, gender, race and ethnicity demographics.
Other studies with vaccine preparations similar to the Oxford group, where the vaccine is delivered by a harmless adenovirus, have reported early results in older people.
In a joint statement, both companies say that a completed analysis of their vaccine found it protected 95 percent of people against the disease..
Early results from COVID-19 vaccine trials are starting to emerge, and scientists have received the first reports from three independent studies with optimism because protection against the coronavirus is possible.
"I think there are many numbers circulating amongst health officials as to what the possible deliveries of vaccines could be but we are not going to confirm those plans until we have much more certainty around them", he said.
"Our goal is to supply several hundred million of doses in the first four to five months of 2021 and this is will already have an impact in the control of Covid-19", Şahin said on vaccine distribution. Both Pfizer and Moderna need to apply for federal regulatory approval before any doses are distributed.
Special lecturer in advanced therapies at UCC's School of Pharmacy, Dr Piotr Kowalski, explained what the mRNA technology is about. "And if we are able to convince 60%, 70% of people to take the vaccine, we could really get an immunity sufficient to avoid further large outbreaks". On Wednesday, he announced he expects the vaccines to be ready for vulnerable populations by the end of the year. With mRNA vaccines, the patient's own body becomes the antigen factory. With the clinical trials showing a 90-95% efficacy rate, the vaccine is very promising to be effective in the real world.
"These are extraordinarily positive results", Ugur Sahin told ABC News' Diane Macedo.
"Having the vaccine provides a lot of freedom, because if someone is vaccinated, their risk is dramatically reduced for infection", Sahin said.
Pfizer and its German partner BioNTech, will seek emergency approval from USA regulators on Friday to begin using its vaccine.
Mr Sahin thanked those who contributed to the "historically unprecedented achievement".
The phase 3 trial conducted by the partnering companies included over 43,000 volunteers.
Approximately 42% of global participants and 30% of USA participants have racially and ethnically diverse backgrounds, and 41% of global and 45% of United States participants are 56 to 85 years of age.
Asked about the confusion during his daily COVID-19 briefing at Queen's Park on Thursday, Ford said that he has since spoken with senior officials in the Ministry of Health and has been assured that they were provided the estimates by federal government officials.