Pfizer shares rise after successful testing of coronavirus pill

Pfizer has tested COVID-19 pills. The efficacy of the drug reached 89%.

The successful testing of the coronavirus pill led to a sudden rise in the pharmaceutical company’s shares. According to Trading View, Pfizer’s stock price topped $49 on Nov. 5 before 2 p.m.

An evaluation of the effectiveness of the PAXLOVID tablet found that the drug minimizes the risk of an acute course of the disease. The new product from Pfizer must be taken within three days of diagnosis to achieve the desired effect. A group of volunteers was assembled for testing, among whom no fatalities were observed for 28 days. Another group of subjects received a placebo. Among them, there were 10 deaths from COVID-19.

Pfizer reports that the new drug was proven safe and well-tolerated during testing. The company plans to begin shipping COVID-19 pills as early as 2022 if the government gives permission to produce them.