Pfizer’s C-19 drug fails test for preventing infections

Shares of New York-based Pfizer fell as much as 3.9% in extended trading before paring declines.

165
Lab Testing Laboratory
Picture: Pixabay

Pfizer Inc. slid in extended trading after its C-19 treatment failed a late-stage study testing it as a way to prevent infections.

The drug, Paxlovid, failed to meet its primary goal of significantly reducing the risk of C-19 infection in adults exposed to the virus through a household contact, Pfizer said in a statement Friday.

The drug reduced risks by about a third compared with a placebo, which didn’t meet the threshold for statistical significance.

Chief Executive Officer Albert Bourla said he was “disappointed” by the study results. Expanding Paxlovid’s use to people who hadn’t yet tested positive for C-19 but have had close contact with an infected person would have opened up a large potential new market for the drug.

Paxlovid is already one of the fastest sellers of all-time in the pharmaceutical industry, with projected sales of almost $24 billion in 2022, according to a forecast from analytics group Airfinity Ltd.

Shares of New York-based Pfizer fell as much as 3.9% in extended trading before paring declines.

If it had succeeded, Paxlovid would have competed with AstraZeneca Plc’s Evusheld, a pre-exposure prevention treatment for the immunocompromised and other people who respond poorly to vaccines.

Medical Degrees from Pakistan declared invalid by NMC

USFDA approves this oral heart disease drug

E-Pharmacy market in India to grow at 45% in future: Report

Drug alert: 48 out of 1454 samples declared as NSQ in March 2022

Haryana ideal destination for Pharma Hub: Chief

Govt announces Indian Pharma and Medical Devices Awards 2022

High Court issues notice to DCGI related to approval of drugs with identical brand names

Drug recall: Quinapril HCl recalled due to N-Nitroso-Quinapril Content

DCGI approves these 3 C-19 vaccines for kids aged above five years

Latest Notifications regarding Pharmaceuticals

For informative videos on the news regarding Pharma / Medical Devices / Cosmetics / Homoeopathy etc., click on the below YouTube icon:

YouTube Icon

For informative videos by The Health Master, click on the below YouTube icon:

YouTube Icon

For informative videos on Medical Store / Pharmacy, click on the below YouTube icon:

YouTube Icon

For informative videos on the news regarding Pharma / Medical Devices / Cosmetics / Homoeopathy etc., click on the below YouTube icon:

YouTube Icon

For informative videos on consumer awareness, click on the below YouTube icon:

YouTube Icon
Telegram
WhatsApp
Facebook
LinkedIn
YouTube Icon
Google-news