Pfizer Decides To Raise COVID-19 Treatment Pill Price, Defends Itself Amid Criticism for Cost Increase
Portfolio Pulse from Vandana Singh
Pfizer Inc is planning to increase the price of its Covid-19 drug Paxlovid to $1,390 for a five-day course, more than double the initial price paid by the U.S. government. This decision has been criticized by doctors and patient advocates due to concerns about patient access. Pfizer defended the price increase, stating it reflects the value Paxlovid provides in reducing Covid-19-related hospitalizations and deaths. The company also plans to offer discounts to uninsured patients or those covered by Medicaid.
October 19, 2023 | 12:45 pm
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Pfizer's decision to raise the price of Paxlovid could face backlash, potentially affecting its stock price. However, the company's plan to offer discounts may mitigate some of this impact.
The price increase for Paxlovid has been met with criticism, which could negatively impact Pfizer's reputation and stock price. However, the company's plan to offer discounts may help to offset some of this negative impact.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Gilead Sciences Inc charges $3,429 for a five-day course of its Covid-19 antiviral remdesivir. This is mentioned in comparison to Pfizer's pricing for Paxlovid.
Gilead Sciences' pricing for remdesivir is mentioned in comparison to Pfizer's pricing for Paxlovid. This could potentially impact perceptions of Gilead's pricing strategy, but the direct impact on the company's stock price is uncertain.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50