Pfizer doubles sales of COVID-19 pill to U.S. government to 20 million treatment courses

Pfizer Inc. PFE, -2.98% said it will sell an additional 10 million treatment courses of its oral therapy, Paxlovid, to treat COVID-19 to the U.S. government this year. That doubles the total amount of courses contracted by the U.S. government to 20 million, with 10 million courses to be delivered by the end of June and the rest to be delivered by the end of September. Meanwhile, Pfizer’s stock sank 2.9% in afternoon trading. “With the Omicron variant surging, the availability of and accessibility to treatment options is of utmost importance, as millions of people are being diagnosed with COVID-19 each and every day,” said Pfizer Chief Executive Albert Bourla. “With data showing significant reductions in hospitalizations and deaths, along with the potential for Paxlovid to maintain robust antiviral activity against Omicron, we believe this therapy will be an important tool in the fight against COVID-19.” Pfizer’s stock has still run up 29.7% over the past three months, while the S&P 500 SPX, -0.10% has gained 11.4%.