What This FDA News Could Mean for Pfizer
In 2021, the COVID-19 vaccine marketed by Pfizer (NYSE: PFE) was one of the leaders in this new but highly lucrative market. While the final tally is still unknown, the drugmaker said it expected to generate $36 billion in sales from Comirnaty in 2021. That's not bad at all for a first year on the market.
But Pfizer's coronavirus-related efforts didn't stop there. In December, the company earned Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA) for an oral COVID-19 therapy called Paxlovid. And while there is plenty of competition in the coronavirus treatment market, a recent regulatory decision from the FDA bodes well for Paxlovid's prospects.
One reason the COVID-19 pandemic still isn't in the rearview mirror is that the virus that causes the disease keeps mutating, and some of its newer variants are much more contagious than the original one. The omicron variant of the virus that arose late last year now accounts for the overwhelming majority of new cases of COVID-19 in the U.S. Unfortunately, some existing treatments seem less effective against it.
Source Fool.com
