The FDA is set to authorize COVID-19 treatment pills from Pfizer Inc (NYSE:PFE) and Merck & Co Inc (NYSE:MRK) as early as Wednesday, Bloomberg reported, citing people familiar with the matter.
- The two drugs, especially Pfizer's pill Paxlovid, are seen as promising new oral treatments that can be taken upon onset of symptoms at home to help prevent COVID-19 hospitalizations and deaths.
- Merck's drug, molnupiravir, developed with Ridgeback Biotherapeutics, was shown to reduce hospitalizations and deaths by around 30% in a clinical trial of high-risk individuals early in the course of the illness.
- Molnupiravir gained a narrow vote in favor of authorization by a panel of advisers to the FDA.
- Meanwhile, Pfizer's Paxlovid showed near 90% efficacy in preventing hospitalizations and deaths in high-risk patients.
- Price Action: MRK shares are up 0.29% at $75.76, PFE stock is down 0.34% at $58.75 during the premarket session on the last check Wednesday.
