COVID-19 Medication Paxlovid's Price Expected to Rise in 2024

Paxlovid, a key COVID-19 medicine, is projected to hike its price as the US exits the pandemic's emergency phase, raising accessibility worries. Similar to COVID-19 vaccinations, Paxlovid is going to shift from free through government purchases to a commercial marketplace for most patients, worrying healthcare professionals.

The new Paxlovid price will likely exceed the $530 per course US government charge, per reports. Patients with Medicare, Medicaid, or no insurance can use a patient assistance program until 2024, while those with commercial insurance may have to pay copayments.

Worries Mount Over Impact of COVID-19 Medication's Price Hike

Albert Bourla, the chief executive of Pfizer, stated that talks with payers had begun and that the "pandemic price" would probably be less than the new commercial price.

Professor of molecular medicine at Scripps Research and concerned party Dr. Eric Topol called the expected price rises "more bad news of price gouging by Pfizer." He stressed the effects on the patients who need Paxlovid, particularly those who are worried about costs.

"Even for those who have full coverage, sticking it to insurers just winds up, in the long run, increasing health care insurance premiums for all," Topol stated, as quoted by CNN.

When administered early in the infection, paxlovid was thought to be one of the most effective therapies for COVID-19 and was initially the focal point of the "test-to-treat" approach in the United States.

Clinical studies revealed that when high-risk people took the medication, they had an 86% lower chance of needing hospitalization or passing away from a COVID-19 infection.

However, some patients have chosen to forgo the treatment due to difficulties in getting the medicine and worries about interactions with other medications.

How Much is Paxlovid's Price Increase?

For many medical professionals, paxlovid remains as the go-to and best option for treating COVID-19. Though, Damien Conover, a Morningstar analyst, predicts that it would retail for roughly $700.

Pfizer had billed the government $530 for each medication course. Umer Raffat from Evercore ISI has predicted a three- to five-fold price increase to $2,500 per course.

Since cost affects pharmaceutical accessibility in the US, patients might become discouraged by the anticipated price increase.

According to the Department of Health and Human Services, 40% of Paxlovid patients are on Medicare or Medicaid and will have free access through 2024, according to The Messenger.

After the US COVID health emergency ended, the government stopped procuring the majority of medications and vaccinations for the populace.

While certain supplies were still available to those who met specific requirements, Pfizer's COVID-19 vaccines, for instance, were advertised on the private market for around $120, which was four times the price set by the US government, as per a Bloomberg report.