Breaking News
Investing Pro 0
⏰ React to the Market Faster with Custom, Real-Time News Get Started

FDA advisers back Pfizer's COVID treatment for full approval

Stock Markets Mar 16, 2023 04:06PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: The Pfizer logo is pictured on their headquarters building in the Manhattan borough of New York City, New York, U.S., November 9, 2020. REUTERS/Carlo Allegri/
 
PFE
+0.52%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Leroy Leo and Khushi Mandowara

(Reuters) -Advisers to the U.S. Food and Drug Administration on Thursday overwhelmingly backed full approval of Pfizer (NYSE:PFE)'s oral antiviral COVID-19 treatment Paxlovid for adults at high risk of progression to severe disease.

The FDA's panel of outside experts voted 16-to-1 in favor of the drug's benefits outweighing its risk for some adults with mild-to-moderate COVID-19.

The agency is expected to make a formal approval decision by May and typically follows the advice of its expert advisers, but is not required to do so.

A full approval will eventually allow Pfizer to sell Paxlovid - which consists of two drugs in pill form - at market rates on the private market in the U.S., rather than through government contracts as it has been thus far.

Pfizer has sold the U.S. government nearly 24 million courses of Paxlovid at around $530 a course. As of March 12, the U.S. had distributed about 12.7 million courses and more than 8.5 million have been dispensed, according to government data. 

A full approval also would provide doctors more flexibility in prescribing the drug and also allow the company to expand its advertising campaign.

Thursday's positive vote came after the FDA and Pfizer provided data assuaging concerns about the potential for a rebound in COVID symptoms after a five-day course of treatment.

Numerous anecdotal reports of a return of symptoms following Paxlovid treatment, including in high profile patients such as President Joe Biden and Dr. Anthony Fauci, had raised concerns.

Several panel members said they were reassured by the data presented on the COVID rebound issue.

Paxlovid has been authorized for emergency use in the U.S. in mild-to-moderate COVID patients aged 12 years and older since late 2021, but Pfizer's application for full approval only covers high-risk adults.

The FDA earlier on Thursday said the current Paxlovid emergency use authorization (EUA) for high-risk adolescents will continue to remain in effect even if it receives full approval for use in older patients.

FDA advisers back Pfizer's COVID treatment for full approval
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email