Drug could reduce hospitalisation and deaths in high-risk patients by 89%, company says
Pfizer logo seen outside their building in Manhattan, New York City on March 2 2021. Picture: REUTERS/CARLO ALLEGRI
The buying frenzy in Asia that tracks gains among similar stocks in the US comes as Pfizer looked to become the second pharmaceutical company to offer an oral pill to combat the virus. While Pfizer’s drug has yet to receive emergency authorisation from US regulators, investors say that it shows promise to help ease the pandemic globally and accelerate a return to travel.
Meanwhile, makers of Covid-19 vaccines and treatments in the region slumped, with CanSino Biologics sinking as much as 20% in Hong Kong. Wuxi Biologics Cayman, which makes ingredients for AstraZeneca’s vaccine, and Shanghai Fosun Pharmaceutical Group, fell at least 9.7% in Hong Kong.
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