Pfizer Authorizes $1B for Covid-19 Oral Treatment

Pfizer’s CEO Albert Bourla has said this week that the company has authorized $1 billion for an oral Covid-19 treatment.

Speaking to Yahoo Finance on Wednesday, Bourla said the company is committing $1 billion to develop the oral treatment, a protease inhibitor, which would give the world an easy-to-use, targeted treatment. Hopefully by the time 2021 ends it will be developed.

Current treatment for COVID-19 includes monoclonal antibodies and some repurposed drugs. This includes generics and Gilead Sciences’ Veklury, formerly known as Remdesivir. In order to receive these treatments one must be in a hospital or clinic.

Pfizer has projected total COVID-19 vaccine revenue could top $33.5 billion for 2021. The company estimats that out of that, its cut, covering costs and taxes, will be in a range of $8.4 billion to $9.7 billion. This is after sharing 50% royalties with BioNTech,

The company’s chief scientific officer Mikael Dolsten said Phase 2/3 trials began in July and the company anticipates an emergency use authorization submission in the fourth quarter.

“The goal is to reduce SARS-Cov-2 viral load, thereby hopefully decreasing or preventing symptoms of COVID-19 and minimizing the risk of hospitalization,” Dolsten said.

The study focuses on infected patients, and could include anywhere from a five to 10-day treatment course.

This is dependent on whether or not the person is exposed to a person with COVID-19, or is just starting to exhibit symptoms of infection.

The company has been keeping its COVID-19 vaccine manufacturing in-house, rather than lean on contract manufacturing organizations or partners.

“We de-risked, because for every part of the manufacturing, we had at least two sides of Pfizer doing it – one in Europe, one in the U.S,” Bourla told Yahoo Finance.

“So if something goes wrong with one, we can continue with the other,” he added.

According to Bourla, this was less risky than relying on partners who may or may not be reliable.

“It was proven that our approach was the successful one,” Bourla told Yahoo Finance. “We haven’t lost a single box of our vaccine.”

Pfizer has also recently said that immunity drops to 83% within four months in people who got its COVID-19 shot.

New research published Wednesday indicates that the company’s shot provides 96.2% protection for the first two months, 90.1% effectiveness between the second and fourth months, and between 83.7% of protection for the fourth, fifth, and six months.

“We will need a booster eight to 12 months from the second dose,” Pfizer CEO Albert Bourla said Wednesday, according to a FactSet transcript of the company’s second-quarter earnings call.

“We do see—after six to eight months—more rapid waning concerning infections and mild to moderate symptoms,” Dr. Mikhail Dolsten, Pfizer’s chief scientific officer, said during the call. “Those are likely entirely, or to a large degree, dependent on antibodies and the drop in titer that we alluded to. If you raise it, you may have a good probability to reverse that waning.”

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.