SHTDF - Pfizer Meck said to have cut prices of COVID-19 pills in China
2023-04-04 07:07:13 ET
- The makers of oral COVID-19 treatments, Pfizer ( NYSE: PFE ) and Merck ( NYSE: MRK ), have reportedly reduced the prices of their respective medicines, Paxlovid and molnupiravir, in China, according to pricing information published by the province of Jiangsu.
- The pricing changes went into effect on Monday after the authorities published the new prices on Friday.
- Pfizer ( PFE ) slashed the price of its oral antiviral Paxlovid by about 100 yuan ($14.54) to 1,790 per box of 30 pills, while Merck ( MRK ) cut the price of molnupiravir by 74 yuan to 1,426 yuan for a 40-capsule bottle, Reuters reported citing financial news outlet Yicai.
- The decisions came as a requirement to pay full prices of Paxlvoid and molnupiravir took effect this month after a lapse of a temporary policy decision on Mar. 31, under which insured patients were only required to pay 10% of the prices.
- Merck ( MRK ) collaborates with Sinopharm Group ( OTCPK:SHTDF ) ( OTCPK:SHTDY ) to commercialize molnupiravir in China, while Pfizer ( PFE ) has partnered with local drug maker Zhejiang Huahai to manufacture its treatment there.
- Paxlvoid sales were in high demand as China emerged from its so-called zero COVID policy in December.
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Pfizer, Meck said to have cut prices of COVID-19 pills in China