Pfizer, US ink $5.29B deal for possible COVID-19 treatment [View all]
Source: AP
By TOM MURPHY
The U.S. government will pay drugmaker Pfizer $5.29 billion for 10 million treatment courses of its potential COVID-19 treatment if regulators authorize it, the nation’s largest purchase agreement yet for a coronavirus therapy.
Pfizer asked the Food and Drug Administration on Tuesday to authorize emergency use of the experimental pill, which has been shown to significantly cut the rate of hospitalizations and deaths among people with coronavirus infections.
The FDA is already reviewing a competing pill from Merck and will hold a public meeting on it later this month.
The price for Pfizer’s potential treatment amounts to about $529 per course. The U.S. has already agreed to pay roughly $700 per course of Merck’s drug for about 3.1 million treatments.
This image provided by Pfizer shows its COVID-19 pills. Drugmaker Pfizer said Tuesday, Nov. 16, 2021, it is submitting its experimental pill for U.S. authorization, setting the stage for a likely launch in coming weeks. (Pfizer via AP)
Read more: https://apnews.com/article/coronavirus-pandemic-business-health-f8f3b777d1685610a9293d4feedc656f
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