Prognosis
Pfizer’s Pill, Shot Push Stock to Record as Variant Emerges
- Its vaccine is best-selling drug product on a yearly basis
- Drug maker is awaiting authorization in U.S. for Covid pill
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Pfizer Inc. jumped to a record Friday on the promise of its Covid-19 vaccine and antiviral pill even as fears of a new variant tamped down much of the rest of the U.S. stock market.
The drug maker added $17.5 billion to it market value as the shares closed 6.1% higher in New York trading. Pfizer’s vaccine with BioNTech SE is on track to be the best-selling drug product on a yearly basis and received backing from a European regulatory panel on Thursday to expand its use into children as young as five. BioNTech shares surged 14% to the highest in two months.