Pfizer’s Covid Pill Gains Regulatory Approval in the United Kingdom
Pfizer’s Coronavirus pill, 90% success in preventing severe illness among vulnerable adults, has now gained approval in the United States and the United Kingdom.
MHRA Approves Pfizer’s Paxlovid
The Medicines and Healthcare products Regulatory Agency (MHRA), the UK medicines regulator, approved Pfizer’s antiviral drug Paxlovid earlier today. Paxlovid reportedly has a 90% success in preventing severe illness among vulnerable adults if taken soon after becoming infected with the Coronavirus.
MHRA said, “Paxlovid is safe and effective at reducing the risk of hospitalization and death in people with mild to moderate Covid-19 infection, who are at an increased risk of developing severe disease.”
The regulatory agency added that the drug is very effective when taken during the initial stages of the virus infection. MHRA said it recommends using Paxlovid within five days of a patient’s first symptoms.
The United Kingdom has approved the drugs for patients aged 18 and over with at least one risk factor for becoming severely ill, like obesity or diabetes, or being over 60. Dr. June Raine, the MHRA’s chief executive, stated that “We now have a further antiviral medicine for the treatment of Covid-19 that can be taken by mouth rather than administered intravenously. This means it can be administered outside a hospital setting before Covid-19 has progressed to a severe stage. I hope the announcement gives reassurance to those particularly vulnerable to Covid-19, for whom this treatment has been approved. For these individuals, this treatment could be life-saving.”
Following this latest development, Pfizer’s Paxlovid is now approved in the United States and the United Kingdom.
PFE Rallies Following the Announcement
The shares of Pfizer have been rallying since MHRA announced the approval of Paxlovid earlier today. Since the US market opened, PFE has added 1.59% to its value and is now trading above $59 per share.
PFE performed excellently over the past 12 months. The shares of the company have surged by 67% year-to-date, outperforming numerous stocks in the healthcare sector.