Title: Pfizer Increases Price of COVID Antiviral Therapy Paxlovid as Medication Transitions to Commercial Market
Date: [INSERT DATE]
Pfizer has announced that the price of Paxlovid, an antiviral therapy used to prevent severe illness in COVID-19 patients, will see a significant increase as the medication transitions to the commercial market. The updated price for a five-day course will be set at $1,390, more than double the $529 previously paid by the federal government for the treatment.
In a letter obtained by The Wall Street Journal, Pfizer notified pharmacies of the new pricing for Paxlovid on October 18. The company stated that the pricing is based on the value the drug provides to patients, healthcare providers, and healthcare systems in reducing COVID-19-related hospitalizations and deaths.
Paxlovid’s transition to the commercial market, along with its updated pricing model, is scheduled to begin in November of this year. Pfizer clarified that the list price of the medication may not necessarily represent the actual out-of-pocket cost for patients. The company emphasized its commitment to ensuring broad and equitable access to its medicines, working with payers to achieve lower out-of-pocket costs for patients.
Pfizer also announced its plans to offer a copay program for privately insured patients, potentially providing the drug for free. In addition, a patient assistance program (PAP) will allow Medicare, Medicaid, and uninsured individuals to receive Paxlovid free of charge through 2024.
Paxlovid is a combination of two antiviral medications, nirmatrelvir and ritonavir, which are administered to patients with mild to moderate cases of COVID-19 in two doses each over a five-day treatment period.
The U.S. Department of Health and Human Services (HHS) confirmed the upcoming transition of Paxlovid to the commercial market. In a statement, the HHS outlined its commitment to ensuring a smooth and predictable transition while prioritizing the availability of treatment courses for individuals with Medicare, Medicaid, and those without insurance.
It is important to note that the end of the federal public health emergency related to the COVID-19 pandemic on May 11, 2023, does not affect the emergency use authorizations for COVID-related products, including Paxlovid.
Pfizer’s decision to increase the price of Paxlovid has raised concerns about access to the medication for COVID-19 patients. However, the company’s efforts to implement copay programs and patient assistance programs aim to address these concerns.
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