Food and Drug Administration has fully approved Gilead Sciences’ Veklury for hospitalized patients.
Since the start of the pandemic, there have been more than 148 million confirmed cases of COVID-19 worldwide.
So, it’s likely the treatment market will remain big — especially for a pill to be taken at home.
In Tamiflu’s most profitable year — 2006 — it brought in annual sales of more than $2 billion, data from EvaluatePharma show.
In March, Pfizer began a phase 1 trial to test the safety of its investigational coronavirus treatment in healthy adults.
And what’s even better is its work on a general treatment that most people could use as soon as they develop symptoms. This offers Pfizer a vast revenue opportunity.
These factors — along with possible COVID market dominance — should push Pfizer shares higher over the long term.