Connect with us

Hi, what are you looking for?


Pfizer’s COVID pill shakes up global recovery trade

Shares tied to reopening trades from casinos to airlines surged in Asia on Monday after Pfizer Inc. said that its COVID-19 pill could reduce hospitalizations and deaths in high-risk patients by 89%.

A Bloomberg gauge of Macau casino shares jumped 7.2%, the biggest move in over two months, while an index of Asia-Pacific airline stocks rallied as much as 5.5%, the most since March. Luggage manufacturer Samsonite International SA climbed 15% in Hong Kong.

The buying frenzy in Asia — which tracks gains among similar stocks in the U.S. — comes as Pfizer looked to become the second pharmaceutical company to offer an oral pill to combat the virus. While Pfizer’s drug has yet to receive emergency authorization from U.S. regulators, investors say that it shows promise to help ease the pandemic globally and accelerate a return to travel.

The pill is “bringing some hope that reopening will be able to take place more smoothly, especially if the pill is able to reduce the strain on hospital capacity,” said Jun Rong Yeap, market strategist with IG Asia Pte. in Singapore. “The fact that it is an oral treatment may also suggest that it may be more well-received, along with its high efficacy.”

Meanwhile, makers of COVID-19 vaccines and treatments in the region slumped, with CanSino Biologics Inc. sinking as much as 20% in Hong Kong. Wuxi Biologics Cayman Inc., which makes ingredients for AstraZeneca Plc’s vaccine, and Shanghai Fosun Pharmaceutical Group Co., which has a deal to distribute BioNTech and Pfizer’s vaccine in Greater China, fell by at least 9.7% in Hong Kong.

If successful, Pfizer’s pill “may create uncertainties for earnings outlook and valuations of Chinese vaccine makers,” said Daniel So, a strategist at CMB International Securities. “The impacts are expected to be of mid-to-long-term.”

In Japan, Shionogi & Co., which has been developing a rival drug to Pfizer’s, fell the most since March 2020. The firm is expecting late-stage trial data on that treatment by December. Takara Bio Inc., which has a contract to produce mRNA vaccines in Japan starting next year, fell the most since May of last year.

Last month, Merck & Co. submitted its experimental treatment to regulators, after a study showed it slashed the risk of getting seriously ill or dying by half in certain patients. Vaccine related shares also plunged after that news. — Bloomberg

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



Follow us on Spotify BusinessWorld B-Side The Filipino workforce is gradually adapting to a work environment that has been changed forever due to the pandemic....


The Department of Environment and Natural Resources (DENR) has given recognition to volunteers and partners who had significant contribution to the cleanup and rehabilitation...


Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories...


Former client, Jennifer Pacquing on her experience with Planning for Canada services. Planning for Canada – Planifier pour le Canada (PfC) is pleased to...


Windmills are seen in Pililia, Teresa, Rizal province on April 25. — PHILIPPINE STAR/ MICHAEL VARCAS THE INCOMING Marcos administration should consider the full...


THE PHILIPPINE central bank should deliver more aggressive rate hikes in order to curb inflation that is now expected to reach 5% this year,...

You May Also Like


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Financial Advisors

The healthcare ecosystem is one that has thrived on the cusp of scientific progress, benefitting enormously from the winds of change in the technological...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.