The stock of Pfizer climbed 0.4 % on Thursday after the firm announced that the US government has made a $5.29 billion order for 10 million treatment cycles of its experimental medicine for Covid-19.

The tablet has yet to be approved by the Food and Drug Administration, and supplies will begin once that happens in 2022.

The company also announced that it has signed advance purchase agreements with a number of other countries and has begun bilateral outreach to more than 100 countries around the world.

Pfizer Reaps Hundreds of Millions in Profits From Covid Vaccine - The New  York Times

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 %. Merck's molnupiravir has an efficacy ratio of a little over 50%, thanks to a collaboration with Ridgeback Biotherapeutics.

Pfizer recently upped its revenue forecast, relying mostly on sales of its Comirnaty vaccine. 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 $2.5 billion higher than the previous estimate.

The pill is considered the company's second winner in the Covid portfolio, which is now seeking permission for a booster dose to enhance sales.

The business is waiting on the results of today's FDA expert meeting, which will debate the benefits of the third shot for all adults. Only people over the age of 65 or who are considered fragile are eligible for a third dose of the company's vaccine at this time.

On Friday, an independent group from the Centers for Disease Control and Prevention will meet to discuss the issue.