Health
Vaccine Developer, Pfizer, US Inc. $ 5 Billion Transaction for COVID-19 Treatment
The US government will pay pharmaceutical company Pfizer $ 5.29 billion for 10 million treatment courses of potential COVID-19 treatment, if approved by the regulatory agency.
Pfizer requested the Food and Drug Administration on Tuesday to allow emergency use of pills. This has been shown to significantly reduce the rate of hospitalization and death for people infected with coronavirus.
The FDA is already considering competing tablets from Merck and plans to hold a public meeting later this month.
The price of Pfizer’s potential treatment is around $ 529 per course. The United States has already agreed to pay about $ 700 per Merck drug course for about 1.7 million treatments.
Pfizer said Thursday that the price paid by the US government reflects the large number of treatment courses purchased by 2022.
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Pharmaceutical companies have also begun rolling submissions for approval in several other countries, saying they have pre-purchase agreements with other governments.
On Tuesday, Pfizer signed a contract with a UN-backed group to enable generic drug manufacturers to produce low-cost tablets for specific countries. Merck has made similar deals on pills approved in the UK earlier this month.
Earlier this month, Pfizer reported a 89% reduction in hospitalization and mortality in high-risk adults with early signs of COVID-19.
The company studied pills for people who have not been vaccinated and are facing the worst risk of the virus due to health problems such as age and obesity.
Pfizer wants a drug that is available to adults who have a mild to moderate COVID-19 infection and are at risk of becoming seriously ill. This is similar to the way other drugs are currently used to treat this disease.
However, all FDA-approved COVID-19 treatments require IV or injection by a hospital or clinic medical professional.
Pfizer has already generated more than $ 24 billion in global revenue from the COVID-19 vaccine Comirnaty so far this year, which quickly became a top-selling product for pharmaceutical companies.
New York-based Pfizer shares rose 25 cents to $ 51.12 in early trading.
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