Pfizer, Africa CDC Strike COVID-19 Antiviral Pact: Report - Pfizer (NYSE:PFE)

According to a Reuters report, Africa's public health body signed a memorandum of understanding with Pfizer Inc PFE, allowing African countries to access Paxlovid at cost.
The news comes just a few months after researchers with the Drugs for Neglected Diseases Initiative reported that they were denied access to Paxlovid for use in a large study in 10 African countries that aim to find treatments for mild to moderate COVID-19.
According to a Nature report, Pfizer denied the access because it already had plans to conduct similar trials.
Related: FDA Authorizes Pharmacists to Prescribe Pfizer's COVID-19 Therapy.
According to a November readout, Paxlovid reduced the risk of hospitalization or death by nearly 90% in unvaccinated adults.
However, the benefit was less evident in patients who have already been vaccinated or are at a lower risk.
In one subgroup analysis, Paxlovid showed a 57% reduction in hospitalizations and death for vaccinated patients with at least one risk factor for severe Covid. The difference was not statistically significant.
Price Action: PFE shares closed at $53.42 on Thursday.
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