Pfizer's Price Hike: COVID Drug Paxlovid Doubles in Cost as Pandemic Subsides

Pfizer has announced that the price of its antiviral therapy, Paxlovid, used to prevent severe COVID-19 symptoms, will more than double to $1,390 for a five-day course, compared to the $529 previously paid by the federal government. The price increase comes as the medication transitions to the commercial market. Pfizer stated that the pricing is based on the value it provides in reducing hospitalizations and deaths. The company also plans to offer copay programs and patient assistance programs to ensure access to the medication. The transition to the commercial market is set to begin in November 2023.