- Several generic drugmakers will produce cheaper versions of Pfizer Inc's (NYSE:PFE) COVID-19 antiviral treatment Paxlovid at $25/course or less for low- and middle-income countries, Reuters reported citing the Clinton Health Access Initiative (CHAI).
- CHAI said it could not disclose the manufacturers' names who have agreed to the price ceiling because they are still in the early stage of product development and have not received regulatory approval.
- In March, 35 generic drugmakers signed on to make generic versions of Pfizer's pills for 95 poorer countries through a licensing arrangement with the U.N.-backed Medicines Patent Pool (MPP).
- Pfizer sells Paxlovid to the U.S. government for about $530 for a five-day course.
- CHAI said the generic drugmakers would dedicate capacity for 4.5 million treatment courses a month for these countries.
- The $25 price ceiling will apply if there is demand for at least 1 million treatment courses a year.
- It said that orders need to be for at least 50,000 courses to guarantee the price.
- A generic course of molnupiravir is expected to cost about $20 in poorer nations, compared with the roughly $700 per course Merck is charging the U.S.
- Price Action: PFE shares are up 1.01% at $49.95 during the market session on the last check Thursday.
