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PFIZER, INC.

(PFE)
  Report
Real-time Estimate Cboe BZX  -  08:36 2022-10-03 am EDT
44.05 USD   +0.66%
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Pfizer Inc. - Statement from Pfizer Chairman and CEO Albert Bourla on Testing Positive for COVID-19

08/16/2022 | 06:43am EDT

NEW YORK - Pfizer Inc. (NYSE: PFE) - I would like to inform the public that I have tested positive for COVID-19. I am grateful to have received four doses of the Pfizer-BioNTech vaccine and I am feeling well while experiencing very mild symptoms. I have started a course of PAXLOVID (nirmatrelvir [PF-07321332] tablets and ritonavir tablets), I am isolating in place as well as following all public health precautions.

We have come so far in the past two years in our efforts to battle this disease that I am confident that I will have a speedy recovery. I am incredibly grateful for the tireless efforts of my Pfizer colleagues who worked to make vaccines and treatments available for me and people around the world

About PAXLOVID (nirmatrelvir [PF-07321332] tablets and ritonavir tablets)

PAXLOVID is a SARS-CoV-2 main protease (Mpro) inhibitor (also known as SARS-CoV-2 3CL protease inhibitor) therapy. It was developed to be administered orally so that it can be prescribed early after infection, potentially helping patients avoid severe illness (which can lead to hospitalization and death). Nirmatrelvir [PF-07321332], which originated in Pfizer laboratories, is designed to block the activity of the Mpro, an enzyme that the coronavirus needs to replicate. Co-administration with a low dose of ritonavir helps slow the metabolism, or breakdown, of nirmatrelvir in order for it to remain active in the body for longer periods of time at higher concentrations to help combat the virus.

Nirmatrelvir is designed to inhibit viral replication at a stage known as proteolysis, which occurs before viral RNA replication. In preclinical studies, nirmatrelvir did not demonstrate evidence of mutagenic DNA interactions.

Current variants of concern can be resistant to treatments that work by binding to the spike protein found on the surface of the SARS-CoV-2 virus. PAXLOVID, however, works intracellularly by binding to the highly conserved Mpro (3CL protease) of the SARS-CoV-2 virus to inhibit viral replication. Nirmatrelvir has shown consistent in vitro antiviral activity against the following variants: Alpha, Beta, Delta, Gamma, Lambda, Mu, and Omicron BA.1 and BA.2.

PAXLOVID is generally administered at a dose of 300 mg (two 150 mg tablets) of nirmatrelvir with one 100 mg tablet of ritonavir, given twice-daily for five days. One carton contains five blister packs of PAXLOVID, as co-packaged nirmatrelvir tablets with ritonavir tablets, providing all required doses for a full five-day treatment course.

U.S. FDA Emergency Use Authorization Statement

PAXLOVID has not been approved but has been authorized for emergency use by FDA under an EUA, for the treatment of mild-to-moderate COVID-19 in adults and pediatric patients (12 years of age and older weighing at least 40 kg) with positive results of direct SARS CoV-2 viral testing, and who are at high-risk for progression to severe COVID-19, including hospitalization or death.

The emergency use of PAXLOVID is only authorized for the duration of the declaration that circumstances exist justifying the authorization of the emergency use of drugs and biological products during the COVID-19 pandemic under Section 564(b)(1) of the Act, 21 U.S.C. (*) 360bbb-3(b)(1), unless the declaration is terminated or authorization revoked sooner.

AUTHORIZED USE

The U.S. Food and Drug Administration (FDA) has issued an Emergency Use Authorization (EUA) for the emergency use of the unapproved product PAXLOVID for the treatment of mild-to-moderate coronavirus disease 2019 (COVID-19) in adults and pediatric patients (12 years of age and older weighing at least 40 kg) with positive results of direct severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) viral testing, and who are at high risk for progression to severe COVID-19, including hospitalization or death.

LIMITATIONS OF AUTHORIZED USE

PAXLOVID is not authorized for initiation of treatment in patients requiring hospitalization due to severe or critical COVID-19

PAXLOVID is not authorized for use as pre-exposure or post-exposure prophylaxis for prevention of COVID-19

PAXLOVID is not authorized for use for longer than 5 consecutive days

PAXLOVID may only be prescribed for an individual patient by physicians, advanced practice registered nurses, and physician assistants that are licensed or authorized under state law to prescribe drugs in the therapeutic class to which PAXLOVID belongs (i.e., anti-infectives).

PAXLOVID is not approved for any use, including for use for the treatment of COVID-19.

PAXLOVID is authorized only for the duration of the declaration that circumstances exist justifying the authorization of the emergency use of PAXLOVID under 564(b)(1) of the Food Drug and Cosmetic Act unless the authorization is terminated or revoked sooner.

Contact:

Media

T: +1 (212) 733-1226

E: PfizerMediaRelations@Pfizer.com

(C) 2022 Electronic News Publishing, source ENP Newswire

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Analyst Recommendations on PFIZER, INC.
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Financials (USD)
Sales 2022 102 B - -
Net income 2022 32 739 M - -
Net cash 2022 10 262 M - -
P/E ratio 2022 7,73x
Yield 2022 3,70%
Capitalization 246 B 246 B -
EV / Sales 2022 2,32x
EV / Sales 2023 2,88x
Nbr of Employees 79 000
Free-Float 59,0%
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 43,76 $
Average target price 55,75 $
Spread / Average Target 27,4%
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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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