Pfizer Stock Rises as Paxlovid Is Picked for Long COVID-19 Treatment Study

Pfizer Stock

Pfizer stock rose as the oral COVID-19 treatment from Pfizer (NYSE:PFE) according to information found in a federal register, Paxlovid will participate in a government-funded study in the United States that will help develop diagnostic tools and therapies for individuals with extended COVID.

The National Institutes of Health (NIH) are in charge of the Recover effort, which has received about $1.2 billion in financing from the US government. There are hundreds of various symptoms associated with long COVID, which is thought to affect 5 to 50% of people who contract COVID-19. These symptoms can continue for more than three months and include weariness, chest pain, and cognitive fog.

According to information published on the website on Thursday, Paxlovid, a medication that comes in the form of tablets containing both nirmatrelvir and ritonavir, will take part in a multi-center, placebo-controlled Phase 3 trial that aims to enlist 1,700 adults aged 18 and older.

Beginning on January 17, 2023, the Duke University Duke Clinical Research Institute-supervised trial is expected to last one year. For people who run the risk of contracting the severe version of the condition, the FDA approved Paxlovid and the competing oral COVID-19 medication molnupiravir in December 2021.

Views on Pfizer Stock

Following recent positive news regarding Covid shot pricing, Pfizer (NYSE:PFE) is scheduled to report premarket. However, despite decreased vaccine revenue for the third quarter, Wall Street analysts are preparing for a bad report. The Comirnaty segment revenue is predicted to drop to its lowest level since the beginning of deliveries in late 2020, according to BMO analysts, who also observed that delayed shipments of dosages to the EU will likely have a negative impact. Inquiries about Paxlovid usage, booster uptake, and the effects of the US government’s decision to switch to a private-market model next year may be raised on the drug maker’s earnings call, according to Bloomberg Intelligence.

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