Pfizer stock surged in early November after the company beat third-quarter forecasts and unveiled promising results for a vaccine targeting the respiratory syncytial virus.
Also known as RSV, the virus tends to impact infants and the elderly. Pfizer ( NYSE:PFE ) tested the vaccine in pregnant women. The vaccine was 81.8% protective against serious RSV for the first 90 days of their infants’ lives. Pfizer’s shot also proved 69.4% effective for the first six months of life. If approved, it would be the first maternal shot for RSV meant to protect newborns.
On the same day, Pfizer posted a beat-and-raise earnings report. The company raised its guidance for Covid vaccine Comirnaty by $2 billion to $34 billion and reiterated expectations for $22 billion from the antiviral pill Paxlovid.
Recently, Pfizer finished acquiring sickle cell drug maker Global Blood Therapeutics and migraine assets from Biohaven Pharmaceutical (BHVN). In the June quarter, sales of GBT’s Oxbryta grew by half year over year. Pfizer expects GBT and its pipeline to add $3 billion in peak worldwide sales.
The deal adds to Pfizer’s rare diseases business. September-quarter sales from that division brought in 15% of Pfizer’s total revenue. Its biggest drug in that unit, Vyndaqel, is likely to face competition from Alnylam Pharmaceuticals in the near future.
Meanwhile, Pfizer and partner BioNTech won authorizations for their omicron-blocking Covid boosters. In the U.S., the updated booster is now available to children as young as 5.
Pfizer recently invested $25 million in Akero Therapeutics (AKRO). Akero is studying treatments for nonalcoholic steatohepatitis, a form of fatty liver disease. Further, Pfizer teamed up with Roivant Sciences to launch Proivant Therapeutics, which is working on autoimmune treatments.
So, all in all, is PF...
Click here to read the full article on PressReach.com .Subscribe to the PressReach RSS feeds:
- Featured News RSS feed
- Investing News RSS feed
- Daily Press Releases RSS feed
- Trading Tips RSS feed
- Investing Videos RSS feed
Follow PressReach on Twitter
Follow PressReach on TikTok
Follow PressReach on Instagram
Subscribe to us on Youtube