PFIZER, INC.

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Canadian Regulator Approves Use of Pfizer Oral Drug for Covid-19

01/17/2022 | 11:23am EDT

By Adriano Marchese


Pfizer Canada said Monday that Canada's health regulator has approved the use of its Covid-19 oral treatment for adults over the age of 18.

The pharmaceutical and biotechnology company said that Health Canada has authorized the use of PAXLOVID, also known as the nirmatrelvir tablets and ritonavir tablets, for the treatment of mild-to-moderate Covid-19.

The drug is designed to block the activity of one of the virus's key enzymes, which it uses to replicate itself.

Health Canada approved the drug based on data from Pfizer's phase 2/3 EPIC-HR trial for adults with Covid-19 at a higher risk of seeing their illness progress.

The company noted that additional phase 2/3 trials are still in process for adults at standard risk.

In December, Pfizer said it had reached an agreement with the Canadian government to supply 1 million treatment courses of the treatment in 2022.

"Pfizer is ready to begin delivery in Canada immediately to help get PAXLOVID into the hands of appropriate patients as quickly as possible," Pfizer Canada Hospital Business Unit Lead Kevin Mohamed said.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

01-17-22 1123ET

Stocks mentioned in the article
ChangeLast1st jan.
ON SEMICONDUCTOR CORPORATION 3.19% 56.24 Delayed Quote.-19.76%
PFIZER, INC. 0.64% 53.71 Delayed Quote.-9.55%
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Analyst Recommendations on PFIZER, INC.
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Financials (USD)
Sales 2022 104 B - -
Net income 2022 35 662 M - -
Net cash 2022 15 298 M - -
P/E ratio 2022 8,91x
Yield 2022 3,04%
Capitalization 300 B 300 B -
EV / Sales 2022 2,74x
EV / Sales 2023 3,65x
Nbr of Employees 79 000
Free-Float 58,2%
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Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 53,41 $
Average target price 57,66 $
Spread / Average Target 7,96%
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Managers and Directors
Albert Bourla Chairman, Chief Executive & Operating Officer
David M. Denton Chief Financial Officer & Executive Vice President
Mikael Dolsten Executive VP, President-Research & Development
Lidia L. Fonseca Executive VP, Chief Digital & Technology Officer
Aida Habtezion Chief Medical Officer
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