Pfizer stock jumped nearly 2% so far on Thursday after the firm requested an emergency license from the US Food and Drug Administration to use its Covid-19 vaccine on children aged 5 to 11.
More than 28 million people in the United States could benefit from the shift. The New York Times reports that the agency has agreed to process the request fast and has provisionally set a meeting for October 26 to discuss it. According to the New York Times, a decision will be made between Halloween and Thanksgiving.
Pfizer proposes giving youngsters a dosage that is one-third that of an adult. While facing some obstacles, the company will be hoping for swift approval from the regulator as it rolls out its booster doses for the vulnerable.
The business received FDA approval last month to administer booster doses to seniors 65 and older, as well as at-risk adults. While the corporation works on that, countries and experts are still disputing whether or not a booster dose is required after two doses and where it all ends, despite the fact that many countries are still severely under-vaccinated.
Also, not only Pfizer, but all Covid vaccine makers, might face competition from Merck, which announced last week that an experimental medicine it is developing could cut the risk of infection-related hospitalization and death in half.
Merck's antiviral pill, if approved, maybe the world's first oral therapy for COVID, according to the company. Merck intends to apply for emergency use authorization as soon as possible in the United States.