As drugmakers prepare for the government to stop paying for their COVID-19 treatments, the value of Pfizer's popular COVID-19 drug Paxlovid has decreased by more than 80 percent, according to the Institute for Clinical and Economic Review.
In March, the research institute listed Pfizer's health benefit price benchmark between $3,600 and $5,800. On Dec. 20, ICER updated this figure to be between $563 and $906.
Since the two-drug, five-day regimen became available in late 2021, the U.S. has bought the antiviral treatment for about $530 per packet. In 2023, though, pharmaceutical companies are planning to shift their COVID-19 vaccines and drugs to the commercial market.
ICER said the revised value for Paxlovid is based on "evidence suggesting lower risks for hospitalization among untreated patients and lower relative reduction in hospitalization with Paxlovid."
Pfizer has also tentatively priced its COVID-19 vaccine to cost between $110 and $130 per dose, but some legislators have questioned the drafted price.