Pfizer (NYSE: PFE) announced Friday that its new Covid-19 pill, combined with its well-known HIV drug, reduces the risk of hospitalization and death by about 89% within high-risk adults that have been exposed to the virus. The medication, known as Paxlovid, is similar to Merck’s Covid-19 pill that was just authorized in the U.K. According to Pfizer, the drug has presented good results when given to patients within the first five days of Covid-19 symptoms.
“I think this medicine will change the way things are happening right now that will save millions and millions of lives, it has the potential to do it,” Pfizer CEO and chairman Albert Bourla said in an interview on CNBC’s “Squawk Box.” He said the company has “the capacity right now of 500 million pills,” which he said translates to 50 million treatments. “The very high efficacy comes even to us as a surprise, exceeds our most visionary expectations we had for that.”
Bourla revealed that the company is prepared to present its data to the Food and Drug Administration before Thanksgiving day. Pfizer shares rose 8% during morning trading amid the news.
“These data suggest that our oral antiviral candidate, if approved or authorized by regulatory authorities, has the potential to save patients’ lives, reduce the severity of COVID-19 infections, and eliminate up to nine out of ten hospitalizations,” Bourla said.
The American multinational pharmaceutical disclosed that its Covid-19 pill is supported by a low dose of ritonavir, a drug utilized to treat HIV/AIDS. Ritonavir permits protease inhibitors to act longer within patients, making them more effective against the virus.
“It has demonstrated potent antiviral in vitro activity against circulating variants of concern, as well as other known coronaviruses, suggesting its potential as a therapeutic for multiple types of coronavirus infections,” the company said.
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Pfizer Claims its Covid-19 Oral Treatment Reduces Risks by 89%