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May 3, 2021, 11:14 a.m. EDT

Pfizer says it submitted application for COVID-19 vaccine to Indian regulators 'months ago'

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By Jaimy Lee

Shares of Pfizer Inc. /zigman2/quotes/202877789/composite PFE -0.15% gained 2.2% in trading on Monday after the pharmaceutical company said it will donate $70 million in medicine to India, which is facing the worst surge in COVID-19 cases worldwide during the pandemic. The drugmaker also reiterated that the COVID-19 vaccine it developed with BioNTech SE /zigman2/quotes/214419716/composite BNTX +5.57% has not yet been approved in India, though the application was "submitted months ago." "We are currently discussing with the Indian government an expedited approval pathway to make our Pfizer-BioNTech vaccine available for use in the country," Pfizer CEO Albert Bourla wrote in a letter on Monday. As part of the donation to India, Pfizer will provide common treatments for COVID-19, including steroids and anticoagulants, as well as antibiotics for secondary bacterial infections. It will also provide funding for ventilators and oxygen concentrators. Pfizer's stock is up 7.3% for the year, while the broader S&P 500 /zigman2/quotes/210599714/realtime SPX +2.47% has gained 11.3%.

/zigman2/quotes/202877789/composite
US : U.S.: NYSE
$ 53.91
-0.08 -0.15%
Volume: 21.41M
May 27, 2022 4:03p
P/E Ratio
12.37
Dividend Yield
2.97%
Market Cap
$302.93 billion
Rev. per Employee
$1.17M
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/zigman2/quotes/214419716/composite
US : U.S.: Nasdaq
$ 166.96
+8.81 +5.57%
Volume: 1.07M
May 27, 2022 4:00p
P/E Ratio
2.86
Dividend Yield
0.00%
Market Cap
$38.43 billion
Rev. per Employee
$8.78M
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/zigman2/quotes/210599714/realtime
US : S&P US
4,158.24
+100.40 +2.47%
Volume: 2.17B
May 27, 2022 5:49p
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