Pfizer Inc. has announced that preliminary findings from an experimental pill used to treat those diagnosed with COVID-19 was extremely effective at preventing death and hospitalization, reports the Wall Street Journal.
For those with a mild to moderate COVID-19 infection that took the pill, Paxlovid, within three days of diagnosis, there was an 89% reduction in hospitalization or death, and the pill is considered generally safe and was tolerated well by those that took it in the study. It has shown to be effective against variants such as Delta, which has ravaged global populations and economies in recent months.
Pfizer will be meeting with the FDA this month to request authorization of the pill, and if approved, it could start rolling out by the end of the year. They have already begun the process for regulatory reviews, submitting information on the drug manufacture and other requirements to the FDA.
“It’s stunning data,” Dr. Mikael Dolsten, Pfizer’s chief scientific officer, said in an interview. ”I feel very optimistic on a day like this. For everyone living in this pandemic, a new light of hope has turned on.”
The approval by the FDA would increase Pfizer’s presence and role in the COVID-19 response globally; its shot, created with BioNTech SE, is the preferred shot worldwide, and Pfizer just raised its estimates for vaccine sales to $36 billion this year.
USMC Captures the Growth of Industry Movers Like Pfizer
Pfizer continues to grow with the recent emergency approval of the COVID-19 vaccine for children ages 5–11. The Principal U.S. Mega-Cap ETF (USMC) invests in major movers such as Pfizer and offers exposure to the biggest companies within their industries.
USMC tracks the Nasdaq US Mega Cap Select Leaders Index, a modified equal-weighted index.
The smart beta index takes the top half of securities on the Nasdaq US 500 Large Cap Index and divides the top 10% of companies by market value from the bottom 90%. The top 10% of companies are weighted by market value, while the bottom 90% are equal-weighted and tilted toward those firms with less volatility.
The index is rebalanced semi-annually, though securities that become ineligible for the index between balancing periods are removed without being replaced.
As a smart beta ETF, USMC’s benchmark seeks to provide optimal outcomes on downturns and to capitalize on surges while minimizing exposure to volatility.
USMC is currently comprised of 44 holdings. Pfizer (PFE) is carried at a 1.20% weighting.
The ETF carries an expense ratio of 0.12%.
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