News of the spreading COVID-19 Omicron variant has been rattling financial markets across the world this week. As indices drop and then pick back up with the headlines, investors may be wondering how major biotechnology firms plan to respond to this latest health crisis.
Pfizer's preliminary analysis of its COVID-19 antiviral pill provided very high success rates. Pfizer's CEO has spoken of his company's pill as a "game-changer." Is he right? How might this pill affect the stock prices of Pfizer and its competitors, as well as the broader market?