Albert Bourla | Occupy World Writes

“Pfizer treats Paxlovid like a Prada handbag; a luxury for the few rather than a treatment for the many,” said one consumer advocate.

By Brett Wilkins. Published 10-19-2023 by Common Dreams

U.S. consumer watchdog Public Citizen on Thursday excoriated Pfizer after the pharmaceutical giant announced it would more than double the price of a lifesaving Covid-19 treatment, which will soon sell for an estimated 100 times the cost of production.

Pfizer said Wednesday that it will price its patented Covid treatment nirmatrelvir-ritonavir—sold under the brand name Paxlovid—at $1,390 for a five-day course. Researchers Melissa J. Barber and Dzintars Gotham recently estimated it costs Pfizer $13 to produce five days’ worth of the drug, which is taken in three-pill doses.

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“As this shifts from pandemic to endemic, we think there’s an opportunity here for us,” said Pfizer’s Chief Financial Officer Frank D’Amelio.

By Kenny Stancil, staff writer for Common Dreams. Published 3-19-2021

Photo: KALW/CC

Eager to capitalize on the lasting presence of the coronavirus, executives at Johnson & Johnson, Moderna, and Pfizer—the pharmaceutical corporations that supplied the Covid-19 vaccines approved for use in the U.S.—are quietly planning to hike prices on doses “in the near future,” once they decide the pandemic is over, The Intercept’s Lee Fang reported Thursday.

Although the rapid development of coronavirus vaccines—made possible by large infusions of public resources—has given Big Pharma companies “a boost in goodwill… the public is still sensitive to drug pricing and the reputational risk has, so far, curtailed their ability to reap large financial rewards,” Fang noted. “But that environment, they hope, will change once the pandemic ends: a date that drugmakers themselves reserve the right to declare.” Continue reading →

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