Latest News
- Min. Nadda Unveils ?13,000-Crore Bio-Pharma SHAKTI and Chemical Parks Push to Expand India’s Global Chemicals and Biologics Footprint
- Aurobindo Pharma Subsidiary Launches Generic Cancer Drug in US, Expands Oncology Portfolio in Global Generics Market
- KIMS Hospitals Introduces Adaptive Deep Brain Stimulation in India for Advanced Parkinson’s Treatment
Pfizer's COVID drug gets USFDA approval
The Food and Drug Administration approved Pfizer's Paxlovid oral antiviral for COVID-19 on Thursday. Following the reduction in US government supplies, the company will be able to sell the drug at market rates.
Paxlovid, according to the FDA, can prevent 1,500 deaths and 13,000 hospitalisations each week. According to the Associated Press, the United States continues to report approximately 4,000 COVID-19 deaths and 35,000 hospital admissions each week. According to the US Department of Health and Human Services, approximately 4 million doses of Paxlovid are free of charge at pharmacies and healthcare providers across the country. Furthermore, the US government has 9.6 million doses on hand.
When these stocks are depleted, the government intends to commercialise Paxlovid distribution. This means that Pfizer will sell Paxlovid directly to healthcare providers at a price that has yet to be determined.
The FDA granted the drug an emergency use authorization in 2021. Other reported side effects of Paxlovid include taste disturbance, diarrhoea, high blood pressure, and muscle pain. The drug may cause HIV-1 drug resistance in people with uncontrolled or undiagnosed HIV-1 infection.
However, Pfizer's revenue from Paxlovid sales in the first quarter of 2023 exceeded analysts' expectations by nearly one and a half times ($4.1 billion versus $2.7 billion).