US Government Orders Additional Doses Of Pfizer's COVID-19 Treatment For $2B

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  • The U.S. government announced a new purchase agreement for Pfizer Inc's PFE COVID-19 antiviral treatment Paxlovid.
  • This purchase supplements the 20 million treatment courses previously contracted by and already delivered to the U.S. Government. 
  • The additional 3.7 million treatment courses are planned for delivery by early 2023. 
  • Related: Pfizer Expects $10-$15B From mRNA Vaccine Sales By 2030, Sees $17B Revenues Lost Due To Patent Expiry.
  • The Biden administration previously agreed to pay around $10.6 billion - roughly $530 per treatment course - for the first 20 million courses ordered. 
  • The government is paying around the same amount per course under the new contract, Reuters reported.
  • As of Nov. 30, Pfizer had shipped almost 37 million courses of Paxlovid to 52 countries. That includes all 20 million courses previously ordered by the U.S. government.
  • The two-drug oral treatment is free in the U.S., where more than 9 million courses have been delivered to pharmacies, and patients have used over 6 million courses, according to government data.
  • In June, Pfizer submitted an FDA marketing application New Drug Application seeking approval for Paxlovid for patients at high risk of progression to severe disease from COVID-19. 
  • The target Prescription Drug User Fee Act (PDUFA) action date is in February 2023.
  • Price Action: PFE shares are down 0.02% at $53.06 during the premarket session on the last check Wednesday.
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Posted In: BiotechGovernmentNewsHealth CareContractsGeneralBriefsCOVID-19 Coronavirus
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