According to Tuesday's reports, the U.S. Food and Drug Administration could give its full authorization for COVID-19 antiviral medicines from Pfizer and Merck this week.
People quoted by Bloomberg News have disclosed that the FDA will approve Merck and Pfizer's revolutionary oral medicines as soon as Wednesday.
Both medications, particularly Pfizer's Paxlovid, are viewed as promising new oral therapies that can be administered at home upon commencement of symptoms to help prevent COVID-19 hospitalizations and deaths.
Both pills are used as an at-home treatment for persons with a higher risk of contracting COVID-19. Regulators and developers believe the antivirals would alleviate pressure on overburdened hospitals as illnesses continue to surge in the United States this winter.
Pfizer's pill has shown a nearly 90% reduction in hospitalization for patients who received the medication within three days of developing symptoms, when compared to patients who received a placebo.
Faced with an increase in cases caused by the Omicron virus subtype, the approval of Paxlovid and molnupiravir (Merck) pills would come at a "critical time," Eric Topol, head of the Scripps Research Translational Institute, said.
Molnupiravir, developed in collaboration with Ridgeback Biotherapeutics, was proven to significantly reduce hospitalizations and fatalities in high-risk individuals early in the course of the illness.
In November, the United Kingdom became the first country in the world to license Merck's antiviral medication for use in persons with mild to moderate COVID-19 infection.
The U.S. federal government has ordered 10 million Paxlovid courses and roughly 3 million molnupiravir courses. The medications, on the other hand, are unlikely to be widely available right away.
The Merck pill was "narrowly recommended" for use by an FDA advisory council last month, since some members were concerned about its safety in pregnant women.
Albert Bourla, Pfizer's chief executive officer, said in a statement that his company's medication might be "a vital instrument in helping to suppress the epidemic."
The green light for Pfizer's pill would mean a vote of confidence in the treatment from health experts, as the FDA panel have not been asked to consider the pill's clinical evidence.
Meanwhile, Pfizer's stock fell 3.4% to close at 58.95 on the stock market. Merck stock was down 1.1% to $75.54 on Tuesday.
Despite Tuesday's drop, Pfizer's stock is still at a three-decade high. In mid-November, shares broke out of a cup base with a purchase point at 51.96.
Pfizer's stock has breached its 5% chase zone and is approaching a 20% to 25% profit-taking zone, based on the latest market monitoring by MarketSmith.com.
