PFIZER, US INK $5.29B DEAL FOR COVID-19 ANTIVIRAL PILLS

Fri 19 November 2021:

Pfizer announced on Thursday that it will sell 10 million Covid-19 treatment courses to the US government for $5.3 billion, subject to regulatory approval.

The pharmaceutical company requested emergency use authorization from the US Food and Drug Administration on Tuesday for its Paxlovid tablet, which has been demonstrated to reduce hospital admission and death in newly infected, high-risk patients by roughly 90%.

The pharmaceutical company also announced that it has begun rolling submissions for clearance in a number of other countries, as well as advanced purchase agreements with other governments.

Pfizer agreed to a deal with a UN-backed initiative on Tuesday that will allow generic drugmakers to develop low-cost copies of the pill for specific countries. Merck has a similar contract in place for its medication, which was approved in the United Kingdom earlier this month.

The FDA is currently evaluating Merck’s pill and will conduct a public conference on the topic later this month.

In the early stages of Covid-19, Pfizer said that the pill reduced hospital admissions and mortality by 89 percent among high-risk adults.

The company tested its pill on patients who had never been vaccinated and were at the highest risk of contracting the virus due to their age or other health issues, such as obesity.

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