US pharmaceutical major Pfizer (NYSE: PFE) has entered into a partnership with China-based CSPC Pharmaceutical Group Ltd (HKG: 1093) to localize its antiviral treatment Paxlovid (nirmatrelvir + ritonavir) in China. This collaboration aims to enhance access to the COVID-19 therapy within the Chinese market.
Paxlovid: An Oral Small Molecule COVID-19 Therapy
Paxlovid is an oral small molecule therapy used for treating adults with mild to moderate COVID-19 who are at risk of disease progression. This includes the elderly (over 60 years old) and patients with one or more risk factors such as chronic kidney disease, diabetes, cardiovascular disease, and chronic lung disease. The therapy has demonstrated a significant reduction in the risk of hospitalization or death by 86% in pivotal clinical trials, leading to its global use in treating 15 million patients.
Paxlovid’s Market Access and Pricing in China
Paxlovid was approved for importation in China through the country’s emergency review and approval channel in February 2022, with a price of RMB 2,300 per box. The high cost has been a barrier to its inclusion in the National Reimbursement Drug List (NRDL). Pfizer’s 2022 annual report highlighted annual sales for Paxlovid at USD 18.93 billion, a figure that is expected to stabilize at USD 8 billion this year due to reduced COVID-19 treatment demands.-Fineline Info & Tech
