Pfizer’s stock jumped 11% after the company announced its COVID-19 Pill proved to reduce the chances of hospitalization or death for adults at risk of serious diseases by 89% in preliminary assessment.
More details🧐 Pfizer’s pill could secure regulatory approval by the end of the year. Pfizer said it plans to submit trial results to the Food & Drug Administration (FDA) by November 25th. The trial was stopped early due to its high success rate.
Why is this important🤔 This is the second pill being developed against COVID-19 after Merck & Co. announced in September a pill that was 50% effective in reducing deaths. The Pfizer & Merck pills are eagerly anticipated, & Pfizer is in active discussions with 90 countries over supply contracts for its pill.