Pfizer Inc. (NYSE: PFE) Finds That Paxlovid Cannot Prevent COVID-19 Infection

Pfizer Inc. (NYSE: PFE) has found that its Paxlovid pill might not effectively prevent COVID-19 in people who have come in contact with infected individuals. Paxlovid is an oral drug which the Food and Drug Administration (FDA) approved for the treatment of COVID-19.

In the study, the company gave the pill to people for five and ten days, respectively. Researchers saw a 32% and 37% risk reduction rate in the volunteers. However, this figure was not statistically significant. As a result, the company concluded that the drug didn’t reduce the likelihood of contracting COVID-19 for people who shared a household with an infected person.

Pfizer states that these disappointing results do not impact the drug’s efficacy in treating the disease.

Reports indicate rebounding virus levels after taking Paxlovid

However, the analysts believe this news won’t change the drug’s sales. There have also been reports of rebounding virus levels after patients finish a course of the drug. While this was initially rare, there have been an increasing number of cases. Scientists are now investigating what could be causing the relapse.

Pfizer has stated that it takes the news seriously and will be investigating the claims. Paxlovid has been proven to reduce the rates of hospitalisation and death. For this reason, many believe that the risk of testing positive for a second time should not outweigh the benefits the oral pill has had during this pandemic. Moreover, the claims of relapse are mostly anecdotal.

Pfizer is expected to release its financial results for Q1 2022. Analysts anticipate that the company could fall short of estimates. However, it could also make high revenue from Inlyta and Ibrance, two cancer drugs.

Poland invoked a force majeure clause 

Adam Niedzielski, the health minister of Poland, revealed that Warsaw had told Pfizer and the European Commission that it wouldn’t pay for or take COVID-19 vaccines from the company. After this, Poland invoked a force Majeure clause in its Pfizer contract. This decision came after an increase in Ukrainian refugees in the country. The European Commission has stated that there was no need to invoke the clause as Ukraine hadn’t changed their vaccination needs.

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Published by Chris Brown

About Me: I have a Phd in Economics Gender: Male Interests: Playing games like cricket, volleyball Favorite Music: hip hop, rock, jazz