By Dhirendra Tripathi
Investing.com – Pfizer stock (NYSE:PFE) traded nearly 1% higher in Wednesday’s premarket on reports the regulators will this week authorize Covid-19 vaccine booster shots for all adults.
The Food and Drug Administration is sitting Thursday and vaccine experts at Center for Disease Control and Prevention’s independent committee Friday to discuss merits of the case and approve the company’s third jab for all those 18 years and older.
The U.S. is now averaging more than 85,000 cases daily, about an 18% increase compared to two weeks ago. So far, those at least 65 or vulnerable were eligible for a third shot of the company’s vaccine.
The company recently raised its guidance, mostly banking on sales of its Comirnaty vaccine to boost sales. It now sees $81.5 billion in sales in 2021 at the midpoint of its forecast range, including $36 billion in sales of its Covid-19 vaccine. That's $2.5 billion more than the previous forecast.
Adding to the positive sentiment for the stock was the company asking the FDA on Tuesday to approve its Covid-19 antiviral pill.
The antiviral pill is one of only three oral medicines so far to prove their efficacy against Covid-19, along with treatments from Merck (NYSE:MRK) and Regeneron (NASDAQ:REGN). Pfizer claims to reduce the risk of hospitalization or death by 89%. Merck's molnupiravir boasts an efficacy ratio of just over 50%.
Gains from the pill could be limited though as the company will allow generic manufacturers to make the medicine while waiving royalties on sales in low- and middle-income countries.