Pfizer Inc Rises As New Antiviral Pill COVID-19 Gets FDA Approval
- NYSE: PFE gained 0.83% in Monday’s trading session.
- Pfizer’s COVID-19 antiviral pill gets FDA approval, but comes with a few warnings.
- Moderna falls for a fifth consecutive session as shareholders demand more from the company.
NYSE: PFE has performed well over the past month, and with an all-new COVID-19 treatment on the way, 2022 could be another profitable year for the pharmaceutical giant. On Monday, Pfizer’s solid December continued as the stock gained 0.83% and closed on the first trading day after Christmas at $ 59.20. Broad markets continued the Santa Claus rally as the final week of 2021 started with all three major indices ending the session in the green. The markets were once again punctuated by the NASDAQ which gained 1.39%, while the S&P 500 was on its heels, gaining 1.38% at the start of the week.
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Pfizer officially received FDA approval last week for its COVID-19 antiviral pill called Paxlovid. The pill has been approved for anyone with mild to moderate symptoms of COVID-19 and over the age of 12. Paxlovid is for patients with additional underlying conditions that could exacerbate the effects of the coronavirus, which could lead to hospitalization or reactions. The pill is not without warnings, as the FDA warns that one of the drugs in the cocktail could be dangerous for patients who are already taking certain types of antidepressants or blood thinners.
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Pfizer rival Moderna (NASDAQ: MRNA) stuck in a downtrend as the stock fell for the fifth straight opening session of the week. On Monday, the Financial Times reported that Moderna shareholders are demanding that the company allow access to its COVID-19 vaccine to developing countries. Much of the debate revolves around why Moderna still charges so much for the vaccine despite government funding. Moderna shares fell 1.24% on Monday and have lost more than 23% in the past five trading days.
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