Pfizer hits a new high

Since the opening bell, Pfizer has been among the top three gainers on the BSE, going on to hit a new 52-week high at Rs.4929.85, with volumes jumping up almost 17 times.

The stock shot through the roof on news that it might have found the treatment for coronavirus.

Its parent company said yesterday that it has identified certain antiviral compounds it had in development that have the potential to inhibit coronaviruses and is engaging with a third party to screen the compounds.

The company said it hopes to have the results from that screening by the end of March and if any of the compounds are successful, it would hope start testing them by the end of the year.