Pfizer reveals COVID-19 pill that cuts risk of hospitalisation, death by 89%

Pfizer says that its pill, used, with an HIV drug, cut the risk of hospitalisation or death by 89% in high-risk adults exposed to COVID-19

This would be the second antiviral pill after Merck's (which is reported to reduce risks of hospitalisation or death by around 50% with mild or moderate cases of COVID-19) to have shown a strong effectiveness in treating COVID-19.

Pfizer adds that they are planning to submit the data to the FDA "as soon as possible", with it being based on a mid-to-late stage study of 1,219 adults who had at least one underlying medical condition and a laboratory-confirmed infection within a 5-day period.

On the back of the news, Pfizer shares are surging up by 8% in pre-market now.