Reuters | |

Shares of Pfizer Inc hit a record high on Tuesday for the first time in more than 20 years as shares of COVID-19 vaccine makers have surged amid rising coronavirus cases in the United States.

Pfizer shares were last up 4.9% at $48.25, climbing as high as $48.57 during the session. The stock's previous intraday high was $47.44, reached on April 12, 1999.

Reuters | |

Johnson & Johnson on Wednesday forecast $2.5 billion in 2021 sales for its COVID-19 shot and set a lower production target for the vaccine as lengthy manufacturing problems took a toll.

The company now expects to produce 500 million to 600 million doses of its one-shot vaccine this year, Chief Financial Officer Joseph Wolk told CNBC on Wednesday, down from its original goal to produce a billion shots this year.

Reuters | |

Marlboro cigarettes maker Philip Morris International agreed on Friday to buy British drugmaker Vectura for 1.05 billions pounds ($1.44 billion) to bolster its portfolio of products that are free from tobacco or nicotine.

The deal, which topped a proposal by investment firm Carlyle Group, means shareholders in the drugmaker that makes 13 inhaled medicines will get 150 pence per share in cash, 11% higher than its Thursday closing price.