Pfizer CEO Confident In Existing Antiviral, Can Deliver New Vaccine In Less Than 100 Days If Needed

Pfizer Inc PFE applied for emergency use authorization of its oral antiviral Paxlovid last week after reporting data showing that it was 89% effective at preventing hospitalization or death in at-risk people.

Pfizer CEO Albert Bourla is confident that the oral antiviral will not be affected by the omicron variant, he said Monday on CNBC's "Squawk Box."

Bourla said Pfizer's oral antiviral was designed knowing that most mutations would come from spike proteins.

Omicron has more than 30 mutations on the spike protein that binds to human cells, according to a World Health Organization report. The mutations suggest higher transmission rates and potentially reduced antibody protection.

See Also: Moderna CEO Weighs In On Omicron Variant: We Believe It's 'Already Present In Most Countries'

Following effectiveness studies in relation to the new variant, the Pfizer CEO thinks it's more likely vaccines are determined to be less effective, rather than not effective against omicron.

Even if studies show that existing vaccines are less effective, a new vaccine needs to be created, Bourla said, adding that Pfizer already started developing a new vaccine on Friday. The new vaccine will only be needed if the existing vaccines do not work.

"I'm very very very confident that this drug works for all known mutations including the omicron one, but we are working on follow-up drugs for the eventual case that maybe a resistance is developed," he said.

Bourla is confident Pfizer will be able to deliver a new vaccine, if needed, in less than 100 days.

PFE Price Action: Pfizer is making new 52-week highs during Monday's session.

The stock was up 0.4% at $54.24 at time of publication.

Photo: x3 from Pixabay.