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Pfizer Gains Premarket on FDA’s Nod to Covid-19 Booster for Higher-Risk Groups By Investing.com

by Mike Robinson

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© Reuters.

By Dhirendra Tripathi

Investing.com – Pfizer stock (NYSE:) traded 1% higher in Thursday’s premarket following the Food and Drug Administration’s approval of booster shots of its Covid-19 vaccine for people at higher risk of infection.

People 65 and over and those at higher risk for contracting the disease will now be eligible to receive a third dose of Pfizer BioNTech’s mRNA vaccine. The two companies developed the vaccine jointly and share the revenue from the vaccine sales equally.

According to the FDA, patients should be given a booster dose at least six months following the first dose.

Studies have shown that two-dose vaccinations are less effective than the first. A third dose is needed. This booster was made possible by the Delta version of the original coronavirus which led to the revival of the pandemic both in the U.S.A and elsewhere in the world.

Although the Biden administration desired a broad approval of boosters for all adults, FDA experts and advisors opposed it.

 

 

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