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Cineworld Stock Hits 5-Month High As U.K. Approves COVID-19 Vaccine

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hollywoodreporter.com

News that the U.K. has become the first western country to license a COVID-19 vaccine has seemingly sparked immediate optimism for the local exhibition industry, with shares in beleaguered cinema giant Cineworld, which owns Regal in the U.S., hitting a five-month high.

U.K.'s regulatory body on Wednesday announced it had authorized the use of the Pfizer/BioNTech vaccine ahead of decisions in the U.S.

and Europe, with 800,000 doses expected to be made available as early as next week. The U.K. has bought 40 million doses of the vaccine, which has been shown to have 95 percent efficacy in its final trials.

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