Pfizer moves to allow cheaper COVID-19 pills sending shares of rivals lower
Established COVID-19 vaccine makers have come under pressure after $Pfizer (PFE.US)$ and a United Nations-backed public health organization announced a licensing pact to allow generic-drugmakers to produce cheaper versions of the company’s experimental COVID-19 pill.
$Moderna (MRNA.US)$ , $AstraZeneca (AZN.US)$ , and Pfizer’s partner in COVID-19 vaccine development $BioNTech (BNTX.US)$ have lost ~1.4%, ~3.1%, and ~1.0% in the pre-market, respectively. $Johnson & Johnson (JNJ.US)$ is trading flat.
The licensing deal by Pfizer to enable wider access to its COVID-19 therapeutic follows a similar deal from the rival drugmaker $Merck & Co (MRK.US)$ for its investigational pill, molnupiravir. Merck has shed ~1.0% in early trading.
The shares of early-stage developers of oral COVID-19 therapies such as $Atea Pharmaceuticals (AVIR.US)$ / $ROCHE HOLDING AG (RHHBY.US)$ , $Redhill Biopharma (RDHL.US)$ , and $Adagio Therapeutics (ADGI.US)$ are also expected to open lower.
Stocks to watch: Established manufacturers of COVID-19 antibody treatments such as $Vir Biotechnology (VIR.US)$ , $Regeneron Pharmaceuticals (REGN.US)$ , $Eli Lilly and Co (LLY.US)$ as well as $Gilead Sciences (GILD.US)$ , which produces the intravenously administered COVID-19 therapy Remdesivir.
In terms of effectiveness, $Pfizer (PFE.US)$ and its rival $Merck & Co (MRK.US)$ have demonstrated about 89% and ~50% effectiveness for their oral COVID-19 drugs, PAXLOVID, and molnupiravir in late-stage trials, respectively.
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Reno Gianan :
wild horse : Somehow I don’t believe a word from Pfizer.
Milenko wild horse : or the real intentions of WHO
T_shares Milenko : I don't believe a word from our gov't.
EEC6iRWd4p : This needs two stories in the same morning? Is a 1% drop by "rivals" a big deal? These anti-virals seem hyped to me. Glad if they help but the science does not wow me.
TvhXCjkODq : I guess those pills work as well as their vaccines
vYcu5FgULx : Sarcasm?
KHVgqUvpZS : Smart move by PFE, sharing them with something they don’t want. The money is in the shots and the WHO (Chinese) is not getting it, imo.