Paxlovid, an antiviral therapy prescribed to COVID-19 patients to prevent serious illness, will soon be significantly more expensive to purchase.
As the drug enters the commercial market, Pfizer has set the updated price for a five-day course at $1,390 – more than double the $529 the federal government had paid for the treatment.
The new prices were announced in a letter that Pfizer sent to pharmacies on October 18 and was obtained by The Wall Street Journal.
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COVID-19 recovery after treatment with paxlovid likely due to insufficient exposure to the drug
“Paxlovid’s pricing is based on the value it provides to patients, providers and health systems as it plays an important role in reducing hospitalizations and deaths related to COVID-19,” Pfizer said in a statement.
Last week, Pfizer announced in a press release on its website that it has “modified its supply contract with the U.S. government for Paxlovid” as the drugs marked with emergency use authorization (EUA) expire.
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Paxlovid, an antiviral therapy prescribed to COVID-19 patients to prevent serious illness, will soon be significantly more expensive to purchase. (Getty Images)
Paxlovid’s transition to the commercial market – and its updated pricing model – is scheduled to begin in November this year.
“Commercial transition will begin in November 2023 when the U.S. government begins discontinuing distribution of EUA-labeled Paxlovid,” Pfizer wrote.
UPDATED COVID VACCINES: FDA ANNOUNCES EMERGENCY APPROVAL AND AUTHORIZATION
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The company noted that the drug’s list price does not necessarily reflect what patients would pay out of pocket.
“Pfizer’s goal, as always, is to ensure broad and equitable access to our medicines,” the company wrote in the letter.
“We are working intensively with payers to achieve the best possible formulation placement for Paxlovid, resulting in low out-of-pocket costs (OOP) for patients.”
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Pfizer announced in a press release on its website last week that it had “modified its supply agreement with the U.S. government for Paxlovid” as the drugs marked with emergency use authorization (EUA) expire. (iStock)
Pfizer said it also plans to offer a co-payment program for “eligible privately insured patients” who could potentially receive the drug for free.
In its own press release, Pfizer also referenced a Patient Assistance Program (PAP) in which patients on Medicare and Medicaid – as well as those who are uninsured – will receive Paxlovid free of charge through 2024.
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Paxlovid is a combination of two antiviral drugs, nirmatrelvir and ritonavir.
Patients with mild to moderate cases of COVID take two doses of each drug during the five days of treatment.
“Commercial transition will begin in November 2023 when the U.S. government begins discontinuing distribution of EUA-labeled Paxlovid,” Pfizer wrote. (Portal/Jennifer Lorenzini/File Photo)
A statement from the U.S. Department of Health and Human Services (HHS) also announced Paxlovid’s upcoming transition.
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“HHS will ensure a smooth and predictable transition to the commercial market over the next few months while prioritizing and reserving our HHS-procured treatment courses for people with Medicare and Medicaid and for those who are uninsured,” HHS wrote in the release.
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The date May 11, 2023 marked the official end of the federal public health emergency related to the COVID-19 pandemic.
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However, the government’s statement noted that emergency approvals for COVID-related products would not be affected.
“The timing for the conclusion of the EUA remains to be determined; it will not be finalized on May 11, 2023 like the other declarations.”
Fox News Digital has reached out to Pfizer for further comment.
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