Pfizer Gains Premarket on FDA’s Nod to Covid-19 Booster for Higher-Risk Groups By Investing.com

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Pfizer Gains Premarket on FDA’s Nod to Covid-19 Booster for Higher-Risk Groups

Stock Markets Sep 23, 2021 04:55AM ET

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Pfizer Gains Premarket on FDA’s Nod to Covid-19 Booster for Higher-Risk Groups

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By Dhirendra Tripathi

Investing.com – Pfizer stock (NYSE:PFE) traded 1% higher in Thursday’s premarket following the Food and Drug Administration’s approval of booster shots of its Covid-19 vaccine for people at higher risk of infection.

This means that people 65 years and older and vulnerable individuals at risk of catching the illness will be able to get a third shot of the Pfizer-BioNTech mRNA vaccine. The two companies developed the vaccine jointly and share the revenue from the vaccine sales equally.

Patients should receive a booster at least six months after taking the second dose, the FDA said.

The need for a booster dose after studies indicated the efficacy of the two-dose vaccine declined after a certain period and that a third dose will help. The Delta variant of the original coronavirus that led to a resurgence of the pandemic in the U.S. and in other parts of the world this year was largely responsible for convincing the authorities of the need for a booster.

The Biden administration wanted a blanket approval for the booster to cover all adults but FDA advisors and experts advised against it.

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