The World Health Organization (WHO) said Thursday that it has endorsed the use of Paxlovid, Pfizer's ( Chart PFE - $40.18 0.17 (0.425%) ) oral COVID-19 antiviral treatment, by high-risk patients.
The WHO said that Paxlovid is by the far the most potent available treatment for COVID-19, and an analysis of trial data showed the therapy dramatically cut the risk of hospitalization.
Two clinical trials involving nearly 3,100 patients showed that Paxlovid reduced the risk of hospitalization by 85%.
High-risk patients include those who are older, those with compromised immune systems or chronic illnesses and those who are unvaccinated.
High risk groups include according to the guidelines.
The panel cited new data from two clinical trials involving 3,100 patients, which found Paxlovid led to 84 fewer hospital admissions per 1,000 patients treated with little or no risk of severe side effects when given within five days of the onset of symptoms.
This writer knows two families who have taken Paxlovid and who benefited from the treatment, avoiding any hospitalization.
Pfizer expects Paxlovid to generate $22 billion in sales worldwide in 2022. Expect to hear more detail when the company announces first quarter earnings on May 3, but we would view Pfizer as a core holding even in the absence of COVID-19. Given that COVID-19 isn't going anywhere anytime soon, we think the recent weakness in the stock is an opportunity for investors to average down.
Source: Equities News