Talks to negotiate a lower price for Pfizer Inc.’s Covid antiviral pill Paxlovid in China didn’t pan out, the health authority said, creating a quandary for the government amid a rampant outbreak in the world’s most populous nation. Know more:
Talks to negotiate a lower price for Pfizer Inc.’s Covid antiviral pill Paxlovid in China didn’t pan out, the health authority said, creating a quandary for the government amid a rampant outbreak in the world’s most populous nation.
The government remains in talks with Pfizer for a licensing deal to allow domestic companies to manufacture generic versions of Paxlovid, Reuters reported on Saturday, citing people it didn’t identify. While five Chinese companies make inexpensive, generic versions of Paxlovid for low-income countries under an agreement with the United Nations-backed Medicines Patent Pool, they cannot sell the output in China.
Given China’s under-developed private medical insurance market and the reliance of its 1.4 billion people on the state-run program, Beijing has been dangling inclusion on government’s reimbursement list to push drugmakers to offer deep cost cuts. It negotiates once-a-year to set prices for newly approved and life-saving medicines that are part of the 2.87 trillion yuan state program, which covers more than 95 percent of the population.
While China has relied exclusively on homegrown vaccines for most of the pandemic, authorities in Beijing have demonstrated a greater appetite for antiviral therapies developed abroad following the country’s abrupt termination of its Covid Zero approach in December. After Paxlovid was approved in early 2022, state-owned China Meheco Co. struck a deal to import and distribute more of it to meet surging demand.
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