Asian Tech Press (Dec 15) -- U.S. pharmaceutical company Pfizer Inc. said its COVID-19 oral antiviral treatment candidate Paxlovid is nearly 90% effective in preventing hospitalization or death.

The company announced Tuesday that its COVID-19 pill Paxlovid significantly reduced risk of hospitalization or death by 89% (within three days of symptom onset) and 88% (within five days of symptom onset) compared to placebo, according to an additional phase 2/3 study results.

And recent laboratory data suggest the drug remains effective against the rapidly spreading Omicron variant.

Pfizer Chief Scientific Officer Mikael Dolsten said in an interview that he expects the U.S. Food and Drug Administration (FDA) and other regulators to approve the drug for use in high-risk individuals soon, according to a CNBC report.

He said, "We're in very advanced regulatory dialogues with both Europe and the UK, and we have dialogues with most of the major regulatory agencies globally."