Current:Home > MarketsCOVID-19 treatments to enter the market with a hefty price tag-DB Wealth Institute B2 Reviews & Ratings
COVID-19 treatments to enter the market with a hefty price tag
lotradecoin reports View Date:2024-12-25 16:56:16
WASHINGTON (AP) — The COVID-19 treatments millions of Americans have taken for free from the federal government will enter the private market next week with a hefty price tag.
Pharmaceutical giant Pfizer is setting the price for a five-day treatment of Paxlovid at $1,390, but Americans can still access the pills at no cost -- for now. The less commonly used COVID-19 treatment Lagevrio, manufactured by Merck, also will hit the market next week.
Millions of free, taxpayer-funded courses of the pills will remain at pharmacies, hospitals and doctor’s offices across the country, U.S. Health and Human Services officials said Friday. People on private insurance may start to notice copays for the treatments once their pharmacy or doctor’s office runs out of the COVID-19 treatments they received from the government.
The U.S. government initially inked a deal with Pfizer to pay more than $5 billion for 10 million courses of Paxlovid in 2021.
Under a new agreement, reached last month between Pfizer and the federal government, people on Medicaid, Medicare or those who are without medical insurance will not pay any out-of-pocket costs for the treatment through the end of next year. Pfizer will also offer copay assistance for the treatment through 2028. The Department of Veterans Affairs, the Department of Defense and Indian Health Service will still be able to access Paxlovid the government has on hand. The government will also get 1 million treatment courses to keep in its stockpile.
Suppliers to pharmacies, doctor’s offices and hospitals can begin ordering the treatments from the drug companies starting next week.
“Pfizer is committed to a smooth commercial transition and is working collaboratively with the U.S. government and health care stakeholders to ensure broad and equitable access to this important medicine for all eligible patients,” the company said in an emailed statement to The Associated Press.
Paxlovid has been used to treat COVID-19 since 2021, but the Food and Drug Administration granted full approval earlier this year for it to be used on adults with coronavirus who face high risks of hospitalization or death. That group typically includes older adults and those with medical conditions like diabetes, asthma and obesity.
Full-year revenue for Paxlovid and Pfizer’s COVID-19 vaccine, Comirnaty, is expected to be approximately $12.5 billion.
Merck has not confirmed a list price yet for its Lagevrio treatment but said in a statement to AP that it will also offer the treatment free to patients “who, without assistance, could not otherwise afford the product.”
—
Associated Press reporter Tom Murphy in Indianapolis contributed to this report.
veryGood! (4421)
Related
- Alabama lawyer accused of sexually assaulting handcuffed inmate, lawsuit says
- A teen weighing 70 pounds turned up at a hospital badly injured. Four family members are charged
- Horoscopes Today, March 19, 2024
- Emily Ratajkowski Reveals Her Divorce Rings Nearly 2 Years After Sebastian Bear-McClard Breakup
- What to stream: Post Malone goes country, Sydney Sweeney plays a nun and Madden 25 hits the field
- Woman walking with male companion dies after being chased down by bear in Slovakia
- The Who's Roger Daltrey will return to the US for intimate solo tour
- Shhhh! If you win the Mega Millions jackpot, be quiet. Then, do this.
- 51 Must-Try Stress Relief & Self-Care Products for National Relaxation Day (& National Wellness Month)
- Jake Gyllenhaal got a staph infection making 'Road House,' says his 'whole arm swelled up'
Ranking
- Video shows 2 toddlers in diapers, distraught in the middle of Texas highway after crash
- Riley Strain Search: Police Share Physical Evidence Found in Missing College Student's Case
- Best Buy plans to close 10 to 15 stores by 2025, according to recent earnings call
- Richard Simmons Shares Skin Cancer Diagnosis
- Social media celebrates Chick-Fil-A's Banana Pudding Milkshake: 'Can I go get in line now?'
- The four Grand Slams, the two tours and Saudi Arabia are all hoping to revamp tennis
- Police in Idaho involved in hospital shooting are searching for an escaped inmate and 2nd suspect
- North Carolina county boards dismiss election protests from legislator. Recounts are next
Recommendation
-
Get 10 free boneless wings with your order at Buffalo Wild Wings: How to get the deal
-
Governor signs bills creating electric vehicle charging station network across Wisconsin
-
Make a Racquet for Kate Spade Outlet’s Extra 20% Off Sale on Tennis-Inspired Bags, Wallets & More
-
Ulta’s Semi-Annual Beauty Event Includes 50% off Skin Gym’s LED Face Mask Today Only, Plus More Deals
-
Meta kills off misinformation tracking tool CrowdTangle despite pleas from researchers, journalists
-
A southeast Alaska community wrestles with a deadly landslide’s impact
-
Bruce Springsteen returns to the stage in Phoenix after health issues postponed his 2023 world tour
-
What to know about Hannah Hidalgo, Notre Dame's freshman star and ACC rookie of the year