Pfizer's Price Hike: COVID Drug Paxlovid Now Costs $1,390

Pfizer plans to charge COVID patients $1,400 for a five-day course of the antiviral drug Paxlovid, nearly triple the amount the US government paid during the pandemic. The company is expected to offer price discounts and assistance with out-of-pocket charges. Critics argue that Pfizer's profits from COVID-related treatments, including its mRNA vaccines, were made possible by significant taxpayer funding. Pfizer defended the pricing, stating it is based on the value provided to patients and healthcare systems. The emergency use authorization doses will remain free until the end of 2023, and a patient assistance program will provide free access to Medicare, Medicaid, and uninsured patients through 2024. Some critics accuse Pfizer of being greedy, while the company recently reduced its sales forecast for Paxlovid and its COVID vaccine due to decreased demand.