Pfizer revealed this week that it had increased the list price of a course of Paxlovid – its life-saving antiviral drug used to reduce the risk of severe COVID-19 in the most vulnerable people – at almost $1,400, more than double the roughly $530 the U.S. government paid for treatment during the emergency phase of the pandemic. From a report: Pfizer CEO Albert Bourla had indicated on an investor call earlier this week that the company would increase the price of Paxlovid as it moves from government distribution to the commercial market later this year. But he did not then announce the new list price. Instead, the company revealed the more than doubling increase in a letter to pharmacies and clinics on Wednesday. The Wall Street Journal was the first to report the list price of $1,390 after viewing the letter.
A Pfizer spokesperson told the Journal that “Paxlovid’s pricing is based on the value it brings to patients, providers and health systems because of its important role in reducing hospitalizations and related deaths.” to COVID-19.” A cost-effectiveness analysis last year pegged Paxlovid’s value at between $563 and $906 per treatment, according to the nonprofit drug price watchdog the Institute for Clinical and Economic Review.
