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Pfizer Soars After Covid Pill Shows Strong Results in Study

  • Drug reduced Covid hospitalizations by 89% in clinical trial
  • Pharma giant’s shares surge 11%; U.S. FDA filing imminent
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Pfizer CEO Says Allocation of Covid Pill Will Be Fair
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Pfizer Inc. said its Covid-19 pill reduced hospitalizations and deaths in high-risk patients by 89%, a result that has the potential to upend how the disease caused by the coronavirus is treated and alter the course of the pandemic. The shares surged.

The drugmaker said in a statement on Friday that it was no longer taking new patients in a clinical trial of the treatment “due to the overwhelming efficacy” and planned to submit the findings to U.S. regulatory authorities for emergency authorization as soon as possible.