Drugmaker Pfizer said Wednesday that the price of its life-saving COVID-19 antiviral drug Paxlovid will more than double as the United States emerges from the emergency phase of the pandemic. The list price, before insurance, will be $1,390 for a five-day course, Pfizer said in a statement. This is 2.6 times higher than the $530/course price the US government paid to provide Paxlovid for free to patients during the pandemic. The Wall Street Journal first reported the new price. Pfizer noted that list prices “do not necessarily reflect the price patients will pay” and said it is working to ensure health insurance arrangements will result in low out-of-pocket costs for patients. . The company also said it will provide assistance with copays to those who qualify, which could reduce their out-of-pocket costs to zero. People with Medicare or Medicaid or who are uninsured will be able to get Paxlovid for free through 2024 through a patient assistance program, the U.S. Department of Health and Human Services said last week. Pfizer said the program will last through 2028 for uninsured or “underinsured” patients. The change in list price comes as the United States transitions from a system where the government buys drugs and makes them available to everyone for free to a more traditional commercial system. market. Paxlovid will continue to be available to patients through that system for free through the end of the year. COVID-19 vaccines also increased in price as they underwent a similar transition to the commercial market, increasing about fourfold to between $115 and $130 per dose. One financial analyst estimated a similar increase, three to five times, for Paxlovid, which could take its listing price up to $2,500. Eric Topol, a professor of molecular medicine at Scripps Research, described the potential increase as “exorbitant” when CNN reported on Pfizer’s plans to increase costs this week. “It’s hard to call it ‘good news'” that the increase was instead only 2.6 times, Topol wrote in an email to CNN on Wednesday. He and other doctors have warned that raising the price of Paxlovid will create barriers for people to buy the drug. Pfizer said Paxlovid “is a breakthrough in the fight against COVID-19, helping to treat millions of high-risk patients across the United States.” and millions of others around the world.” The company said the new pricing is “based on the value it brings to patients, providers and healthcare systems due to its important role in help reduce hospitalizations and deaths from COVID-19.”
Drugmaker Pfizer said Wednesday that the price of its life-saving COVID-19 antiviral drug Paxlovid will more than double as the United States moves out of the emergency phase of the pandemic.
Pfizer said the list price, before insurance, will be $1,390 for a five-day course. This is 2.6 times higher than the $530/course price the US government paid to provide Paxlovid for free to patients during the pandemic. The Wall Street Journal first reported the new price.
Pfizer noted that list prices “do not necessarily reflect the price patients will pay” and said it is working to ensure health insurance arrangements come with low out-of-pocket costs for patients . The company also said it will offer assistance with copays to those who qualify, which could reduce their out-of-pocket costs to zero.
The U.S. Department of Health and Human Services said last week that people with Medicare or Medicaid or who are uninsured will be able to get Paxlovid for free through 2024 through a patient assistance program. Pfizer said the program will last through 2028 for uninsured or “underinsured” patients.
The change in list price comes as the United States transitions from a system where the government buys drugs and makes them available to everyone for free to a more traditional commercial market. Paxlovid will continue to be free to patients through that system through the end of the year.
COVID-19 vaccines also increased in price as they underwent a similar transition to the commercial market, increasing about fourfold to between $115 and $130 per dose. One financial analyst estimated a similar potential increase, three to five times, for Paxlovid, which could take its listing price to as much as $2,500.
Dr. Eric Topol, a professor of molecular medicine at Scripps Research, described the potential price increase as “exorbitant” when CNN reported on Pfizer’s plans to increase costs this week.
“It’s hard to call it ‘good news’” when the increase is only 2.6 times, Topol wrote in an email to CNN on Wednesday. He and other doctors have warned that raising the price of Paxlovid will create barriers for people to buy the drug.
Pfizer said Paxlovid “is a breakthrough in the fight against COVID-19, helping to treat millions of high-risk patients across the United States and millions more around the world.”
The company said the new pricing is “based on the value it brings to patients, providers and healthcare systems due to its important role in helping reduce COVID hospitalizations and deaths.” -19.”
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