Pfizer, the American multinational pharmaceutical company, has disclosed the pricing for its COVID-19 drug Paxlovid at $1,390 per course. This cost for the five-day regimen of the antiviral drug will be established when the company makes it available in the commercial market later this year.
Initially reported by The Wall Street Journal, a Pfizer spokesperson subsequently confirmed the pricing on Wednesday. It’s worth noting that this price does not account for rebates and discounts provided to insurers and pharmacy benefit managers. The listed price of $1,390 is more than double the $529 paid by the federal government for Paxlovid.
Since December 2021, when the FDA first authorized the medication, the government has been supplying Paxlovid to the public at no cost. However, starting in 2024, the company will directly sell Paxlovid to health insurers. It’s important to note that demand for COVID vaccines and treatments has significantly decreased.
Concerns have been raised by doctors, health professionals, and patient activists regarding the potential limitations on access to the treatment due to the price increase. In response to these concerns, a Pfizer spokesperson stated to CNBC, “As always, Pfizer’s goal is to ensure broad and equitable access to our medicines.” The spokesperson also noted, “We are working diligently with payers to achieve the best possible formulary placement for PAXLOVID, resulting in low out-of-pocket costs for patients.”
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