Pfizer Inc. (NYSE: PFE) announced that it surpassed the target that Albert Bourla, its CEO, set and developed 6 million Paxlovid pills. Paxlovid is an oral pill that treats COVID-19. The company also stated that it had sent these pills to 26 counties. It hopes to create about 120 million pills in 2022.
Meanwhile, the U.S government owes Pfizer $5 billion to pay for the pills it ordered from the company. This indicates that a large portion of the money the senate is discussing for the pandemic has already been put into use. However, other insiders have stated that it still isn’t clear if the money for the medication will come from the pandemic funding. Despite this, the white house hasn’t responded to any questions.
Investors wonder if Pfizer could beat estimates again
The company has also declined by 1.21% from its last trading session. This came after the company gained 6% in a month. Despite the decline, Wall Street expects positive financial results on May 3.
The question on the kind of many investors is whether the company could beat earnings estimates. Pfizer has managed to beat estimates several times, and many now wonder if it can maintain the feat.
China promotes natural remedies for COVID-19
The COVID-19 pandemic has become a big issue in China, with millions of people getting infected. As a result, Beijing has opted to send traditional medicine to communities to help combat the virus in place of Paxlovid. The aid included a million packets of honeysuckle, sweet wormwood herb, rhubarb role, and other natural remedies.
Some old medicine practitioners claim that these remedies are just as potent as the oral COVID-19 pill. Some state that the medication changes the body’s environment so that the virus can’t survive.
As COVID-19 starts to go down in many places, experts now wonder when the rest of the world would access Paxlovid. While the FDA has approved it for its safety and efficacy, its production hasn’t been a match to demand. Moreover, wealthy nations have bought the pills leaving developing countries to struggle.
Meanwhile, the National Eczema Association has received $175,000 from Pfizer to support its study on Atopic dermatitis.
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