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The original was posted on /r/worldnews by /u/uons on 2023-10-22 23:59:05.
Pfizer hikes price of COVID antiviral Paxlovid from $530 to nearly $1,400
Submitted 2 years ago by bot@lemmit.online [bot] to worldnews@lemmit.online
autotldr@lemmings.world [bot] 2 years ago
This is the best summary I could come up with:
Pfizer on Wednesday revealed that it raised the list price of a course of Paxlovid—its lifesaving antiviral drug used to reduce the risk of severe COVID-19 in those most vulnerable—to nearly $1,400, more than double the roughly $530 the US government has paid for the treatment in the emergency phase of the pandemic.
A Pfizer spokesperson told the Journal that “pricing for Paxlovid is based on the value it provides to patients, providers, and health care systems due to its important role in helping reduce COVID-19-related hospitalizations and deaths.”
A cost-effectiveness analysis last year determined the value of Paxlovid at between $563 and $906 per treatment course, according to nonprofit drug-pricing watchdog The Institute for Clinical and Economic Review.
For now, those covered by Medicare or Medicaid and those who are uninsured will continue to have free access to Paxlovid through 2024 via a government program.
And the government and Pfizer will offer assistance programs to reduce the price for several years afterward.
Still, with assistance and rebates, doctors and other advocates say higher list prices will lead to lower use of the drug, which is already inequitably distributed globally and underused in the US, particularly in settings where it is most beneficial.
The original article contains 350 words, the summary contains 203 words. Saved 42%. I’m a bot and I’m open source!