Canada Approves Pfizer's At-Home COVID-19 Antiviral Treatment, But Deliveries Delayed
Health Canada approved Pfizer Inc's (NYSE: PFE) oral antiviral treatment for mild to moderate cases of COVID-19 in adults.
The approval covers adults with mild to moderate COVID-19 who are at high risk of progressing to hospitalization or death.
The active ingredient nirmatrelvir in Paxlovid works by stopping the virus from replicating.
Related: Pfizer's Paxlovid Scores FDA Approval, First Oral Antiviral For COVID-19 In US.
The drug is intended for after diagnosis of COVID-19 and within five days of the start of symptoms.
The treatment consists of two tablets of nirmatrelvir and one of ritonavir taken together twice per day for five days.
Ottawa said last month it had signed a deal with Pfizer for a million treatment courses, pending approval.
But a global shortage means only a fraction will arrive soon, Reuters reported.
Canada has received 30,400 courses, and officials said it would take delivery of another 120,000 by the end of March.
"We're among the first countries to have approved the medication but also to have received the medication ... competition is high, and we are doing a good job," Federal Health Minister Jean-Yves Duclos told a separate briefing.
The U.S. also authorized Merck & Co Inc's (NYSE: MRK) treatment for people ages 18 and older with mild-to-moderate COVID-19.
Price Action: Pfizer shares are down 1.29% at $54.24 during the premarket session on the last check Tuesday.
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