In Wednesday's premarket, Pfizer stock rose roughly 1% on expectations that regulators may approve Covid-19 vaccination booster doses for all adults this week.
The Food and Drug Administration will meet on Thursday, and vaccine specialists will meet on Friday at the Centers for Disease Control and Prevention's independent committee to review the case's merits and approve the company's third vaccination for those aged 18 and up.
The number of cases in the United States is now reaching more than 85,000 per day, up 18% from two weeks earlier.
Those aged 65 or older who were considered susceptible were eligible for a third dose of the company's vaccine.
The business recently boosted its sales forecast, relying heavily on sales of its Comirnaty vaccine to do so. At the midpoint of its estimate range, it now expects $81.5 billion in revenues in 2021, including $36 billion in sales of its Covid-19 vaccine. This is a $2.5 billion increase over the previous estimate.
The company's request to the FDA on Tuesday for approval of its Covid-19 antiviral medication added to the stock's favorable mood.
The antiviral pill, along with medications from Merck and Regeneron is one of just three oral drugs that show activity against Covid-19 thus far. According to Pfizer, the risk of hospitalization or death is reduced by 89%. Molnupiravir, a drug developed by Merck, has an effectiveness rate of a little over 50%.
The business will allow generic manufacturers to build the medicine while waiving royalties on sales in low- and middle-income nations, so profits from the tablet may be restricted.