Why Pfizer Stock Is Catching Fire Today

Shares of Pfizer (NYSE: PFE) were up by 4% as of 12:08 p.m. ET Wednesday. The drugmaker's stock is rising today in response to two separate catalysts.

First up, President Joe Biden's Test to Treat initiative, announced during his State of the Union address on Tuesday, ought to be a boon for Pfizer's oral COVID-19 pill Paxlovid. Second, the Food and Drug Administration (FDA) has granted Breakthrough Therapy status to the drugmaker's late-stage respiratory syncytial virus (RSV) vaccine, RSVpreF. 

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