Pfizer will price a five-day course of its Covid antiviral drug Paxlovid at $1,390 when the company starts to transition it to the commercial market later this year.
A company spokesperson on Wednesday confirmed the price, which was first reported by The Wall Street Journal.
But beginning in 2024, Pfizer will sell Paxlovid directly to health insurers, which comes as demand for Covid vaccines and treatments slumps nationwide.
But health insurance plans will likely pay much less than the nearly $1,400 list price for Paxlovid, meaning patients will probably have small or no out-of-pocket costs.
Overall, Pfizer now expects 2023 sales of $58 billion to $61 billion, down from its previous guidance of $67 billion to $70 billion.
Persons:
Angelica Peebles
Organizations:
Pfizer, Wednesday, Wall Street, Paxlovid, FDA, CNBC
Locations:
Paxlovid