Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Pfizer Gains as Vaccine Booster for All Adults Nears Nod

Published 11/17/2021, 06:27 AM
Updated 11/17/2021, 06:30 AM
© Reuters

© Reuters

By Dhirendra Tripathi

Investing.com – Pfizer stock (NYSE:PFE) traded nearly 1% higher in Wednesday’s premarket on reports the regulators will this week authorize Covid-19 vaccine booster shots for all adults.

The Food and Drug Administration is sitting Thursday and vaccine experts at Center for Disease Control and Prevention’s independent committee Friday to discuss merits of the case and approve the company’s third jab for all those 18 years and older.

The U.S. is now averaging more than 85,000 cases daily, about an 18% increase compared to two weeks ago. So far, those at least 65 or vulnerable were eligible for a third shot of the company’s vaccine.

The company recently raised its guidance, mostly banking on sales of its Comirnaty vaccine to boost sales. It now sees $81.5 billion in sales in 2021 at the midpoint of its forecast range, including $36 billion in sales of its Covid-19 vaccine. That's $2.5 billion more than the previous forecast.

Adding to the positive sentiment for the stock was the company asking the FDA on Tuesday to approve its Covid-19 antiviral pill.

The antiviral pill is one of only three oral medicines so far to prove their efficacy against Covid-19, along with treatments from Merck (NYSE:MRK) and Regeneron (NASDAQ:REGN). Pfizer claims to reduce the risk of hospitalization or death by 89%. Merck's molnupiravir boasts an efficacy ratio of just over 50%. 

Gains from the pill could be limited though as the company will allow generic manufacturers to make the medicine while waiving royalties on sales in low- and middle-income countries.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.