A COVID vaccine to fight the Omicron variant will be available as soon as March, according to Pfizer (PFE) CEO Albert Bourla. Bourla announced the news Monday on CNBC's "Squawk Box."

“This vaccine will be ready in March. We [are] already starting manufacturing some of these quantities at risk," Bourla said.

Pfizer and Moderna said in late November that a COVID vaccine effective against Omicron would be ready in early 2022.

According to Bourla, the newly formulated vaccine would also combat other variants that are circulating, although he maintained that it is still unclear whether or not an Omicron shot is needed or how it would be used.

“The hope is that we will achieve something that will have way, way better protection particularly against infections, because the protection against the hospitalizations and the severe disease — it is reasonable right now, with the current vaccines as long as you are having let’s say the third dose," Bourla said.

Omicron has shown to have milder symptoms compared to other COVID-19 variants, but now accounts for 95% of all virus cases, according to the Centers for Disease Control and Prevention.

The CDC has said that the best defense against Omicron is to be fully vaccinated and to have a booster shot.

Also on Monday, Moderna CEO Stephane Bancel told CNBC that the drugmaker is aiming for a fall release for a booster shot that targets Omicron, with plans to enter clinical trials soon.

As of Monday at 11:05 a.m. ET, shares of Pfizer were trading at $55.68, down 4 cents, or 0.07%.

Pfizer and BioNTech are launching the process to obtain full regulatory approval for their Covid-19 vaccine Pfizer and BioNTech are launching the process to obtain full regulatory approval for their Covid-19 vaccine Photo: AFP / Ina FASSBENDER