FDA Nods to Pfizer's Paxlovid for COVID-19: A Potential $8 Billion Lifesaver in 2023
Portfolio Pulse from Vandana Singh
The FDA has approved Pfizer's Paxlovid for mild-to-moderate COVID-19 in high-risk adults. The approval is based on data from the EPIC clinical development program, which showed an 86% reduction in risk of hospitalization or death. Pfizer expects Paxlovid sales of $8 billion in 2023.
May 25, 2023 | 5:06 pm
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Pfizer's Paxlovid has been approved by the FDA for high-risk COVID-19 adults, with expected sales of $8 billion in 2023. However, PFE shares are down 2.18%.
The FDA approval of Paxlovid is a significant milestone for Pfizer, as it opens up a new revenue stream with expected sales of $8 billion in 2023. This is likely to have a positive impact on the company's stock price in the short term. However, the current 2.18% drop in PFE shares may be due to other market factors or profit-taking by investors.
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