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Nov. 18, 2021, 9:08 a.m. EST

Pfizer to supply U.S. government with 10 million doses of its antiviral for $5.29 billion

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By Steve Gelsi

PFE

Pfizer /zigman2/quotes/202877789/composite PFE -2.33% said Thursday it has agreed to supply the U.S. government with 10 million doses of its COVID-19 antiviral and will receive $5.29 billion assuming the treatment is authorized. Paxlovid would be the first oral antiviral of its kind. Antivirals are expected to be a game changer in the pandemic as they can be taken at home, while existing treatments have to be administered by intravenous or subcutaneous infusion in a clinical setting. The drug maker has applied to the U.S. Food and Drug Administration for an emergency use authorization for the treatment and is also working to submit applications to regulatory agencies around the world. It's entered into a voluntary license agreement with the Medicines Patent Pool to expand access in 95 low- and middle-income countries with about 53% of the world's population.

/zigman2/quotes/202877789/composite
US : U.S.: NYSE
$ 52.79
-1.26 -2.33%
Volume: 41.06M
Jan. 21, 2022 4:02p
P/E Ratio
15.67
Dividend Yield
3.03%
Market Cap
$296.30 billion
Rev. per Employee
$883,274
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