Pfizer jumps as US parent's antiviral drug could nearly end deaths from COVID-19

Pfizer jumped 5.24% to Rs 5267.90 after the company's parent said on Friday that its experimental Covid-19 antiviral pill cut by 89% the chance of hospitalization or death for adults at risk of severe disease.

The drug - Paxlovid - is intended for use soon after symptoms develop in people at high risk of severe Covid-19 disease. The drug was found to reduce the risk of hospitalization or death by 89% compared to placebo in non-hospitalized high-risk adults with Covid-19.

In the overall study population through Day 28, no deaths were reported in patients who received Paxlovid as compared to 10 deaths in patients who received placebo.

At the recommendation of an independent Data Monitoring Committee and in consultation with the U.S. Food and Drug Administration (USFDA), Pfizer will cease further enrollment into the study due to the overwhelming efficacy demonstrated in these results and plans to submit the data as part of its ongoing rolling submission to the USFDA for Emergency Use Authorization (EUA) as soon as possible.

Pfizer's net profit rose 8.8% to Rs 142.95 crore on 6.8% increase in net sales to Rs 636.26 crore in Q2 FY22 over Q2 FY21.

Pfizer is a research-based global biopharmaceutical company which is engaged in the discovery, development and manufacture of healthcare products.

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