Pfizer Inc. (NYSE: PFE) Drug, Paxlovid, Becomes Readily Available As Omicron Subsides

The Pfizer Inc. (NYSE: PFE) drug, Paxlovid, is becoming more available as the number of omicron infections dwindles. The drug which the Food and Drug Administration (FDA) approved had been difficult to obtain during the spike, leaving a gap for patients with mild cases of the disease.

Meanwhile, Pfizer and BioNTech SE’s (NASDAQ: BNTX) omicron vaccine has been delayed as the companies take longer than they had hoped to gather data. When they are finished, they will still have to evaluate whether patients need the drug since cases are going down.

The U.K offers vaccines to children between 5 and 11

The Joint Committee on Vaccination and Immunization has advised the U.K to offer vaccines to children between 5 and 11. In line with this, North Ireland and England will follow Wales and Scots in vaccinating children. However, England has classified this offer as non-urgent.

Pfizer has also received approval for other drugs. For instance, European Medicines Agency has authorized its 20-valent pneumococcal conjugate vaccine, APEXXNAR. This vaccine is for pneumonia and invasive disease due to Streptococcus pneumonia for people above 18.

Pfizer and Biohaven Pharmaceutical Holding Co Ltd ( NYSE: BHVN) has announced that their joint Phase III clinical trial for rimegepant to treat migrants has yielded positive results. This study is the fourth trial of the drug in Asia Pacifica that has been positive.

All Pfizer’s efforts seem to be paying off as it is now part of Fortune’s List of the Most Admired Companies. This award is primarily due to its CEO, Albert Bourla taking significant risks. Bourla, who became the CEO in 2019, has focused on customer experience and new technology to push the company to great heights.

Pfizer announced mixed earnings

Pfizer reported mixed earnings for its fourth quarter. The company managed to beat earnings estimates though it missed sales estimates. Moreover, it made $12.5 billion from its COVID-19 vaccine.

Additionally, Pfizer released its 2022 financial guidelines. According to the guidelines, the company expects to make between $98- $102 billion in revenues. It also expects sales of about $32 billion from the Comirnaty drug and $22 billion from Paxlovid. Furthermore, its earnings per share could be between $6.35 and $6.55. This guidance was lower than market expectations.

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Published by Fiona Gibson

Fiona is a finance graduate and an expert in analyzing market trends.

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