Pfizer Inc's experimental antiviral pill to treat COVID-19 cut by 89% the chances of hospitalization or death for adults at risk of severe disease, the company said on Friday.
Pfizer CEO Albert Bourla talks during a press conference with European Commission President Ursula von der Leyen.Pfizer Inc's experimental antiviral pill to treat COVID-19 cut by 89% the chances of hospitalization or death for adults at risk of severe disease, the company said on Friday, as its CEO vowed to make this promising new weapon in the fight against the pandemic available globally as quickly as possible.
Shares in Pfizer, which also makes one of the mostly widely used COVID-19 vaccines, were up 9% to $47.82, while Merck's were down 9.3% to $82.09. Shares of vaccine makers took a hit, with Moderna Inc, Pfizer's German partner BioNTech SE and Novavax all down 13-21%. Pfizer is in active discussions with 90 countries over supply contracts for its pill, Chief Executive Officer Albert Bourla said in an interview.Bourla said that for high-income countries Pfizer expects to price its treatment close to where Merck has priced its pill. Merck's U.S. contract price is around $700 for a five-day course of therapy. For low-income countries, Bourla said Pfizer is considering several options, with the goal of"no barrier for them as well to have access.