Pfizer Will Charge $1,390 For 1 Course Of COVID Drug Paxlovid On Commercial Market

Pfizer told pharmacies and clinics this week it will soon price a five-day course of COVID-19 treatment Paxlovid at almost $1,400, more than two-and-a-half times what the federal government has paid for the antiviral pills.

The Wall Street Journal first reported Wednesday that Pfizer plans to price a course of the oral antiviral at $1,390, far higher than the U.S. had paid at $529. The drug was authorized in the U.S. in 2021 and quickly became a key tool to help treat those at risk of developing severe infections from COVID-19.

Canada ‘Freeloading' Off American Innovation, Pfizer CEO Says

Canada and other countries with universal health care systems are keeping drugs cheap by “freeloading” off of American innovation, says the chief executive of one of the world’s largest pharma companies.

“Canada is cheaper because of (drug) ration(ing). And Canada is cheaper because ... it freerides off American innovation,” Pfizer CEO Ian Read said in an appearance at the National Press Club in Washington, D.C. last week.

Obama Kills Largest Corporate Attempt Yet To Flee Overseas And Dodge Taxes

The largest-ever corporate merger to skip out on American tax obligations is now kaput.

Drug giant Pfizer is giving up on its corporate marriage to Ireland-based Allergan after an Obama administration policy change designed to prevent U.S. companies from fleeing taxes by moving their mailing address abroad. The $160 billion merger cemented last fall would have produced significant tax savings for Pfizer, at the expense of the American public.

Miliband: Cameron is a cheerleader for Pfizer takeover of AstraZeneca

Ed Miliband has accused David Cameron of acting as a cheerleader for the US pharmaceutical firm Pfizer's proposed takeover of its British rival AstraZeneca as he called for the brakes to be put on the biggest takeover in UK corporate history.

The Labour leader, who said Pfizer had a "pretty dubious record" on takeovers, has written to the prime minister calling for a change in the law to ensure that a public interest test on such corporate deals should be applied to strategic economic interests. The public interest test normally applies to defence companies or utilities.

Pfizer To Pay Tens Of Millions To Settle Bribery Probe: Report

-- Pfizer Inc. will pay at least $60 million to settle allegations by the U.S. government that the drugmaker paid bribes to win overseas business, according to The Wall Street Journal.

The paper, citing "people familiar with the matter," said in an article published to its website Sunday that settlements are expected to be made public by the end of the year.

In April, health care giant Johnson & Johnson agreed to pay $70 million to settle civil and criminal charges of bribing doctors in Europe and paying kickbacks to the Iraqi government to illegally obtain business. Terms of the deal included J&J putting in place a program to make sure it complies with anti-bribery laws across its businesses.

The charges were brought under the Foreign Corrupt Practices Act.

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Source: Huff