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Pfizer says it will price Covid treatment Paxlovid at nearly $1,400 for a five-day course, which researchers estimate only costs Pfizer $13 to produce.
That's a 10,000%+ markup. Shameful.
Average drug research costs are estimated at between 1-3 billion USD. That’s the average, so some are much more.
And I’d like to know if this stated price is the sticker price. Insurance companies negotiate much less than sticker price, I live in a country with a government drug department that negotiates much lower prices by doing a single contract for the whole country.
Is this that stupid thing where the sticker price is high but no one actually pays that, it’s just to make insurance companies feel like they are negotiating good deals?
Even if R&D cost $100m for this, they’d still only need to sell roughly 80000 doses to make their money back.
I think you’re grossly underestimating how much things cost.
1400 * 8000 = 11.200.00, so you’re off by a factor of 10
Edit: Lol, downvoted for a fact
Haha, you got in there before I corrected my typo. The point still stands though! There’s a whole lot of people in the world, 80k doses is fuck all.
Average drug research costs are estimated at between 1-3 billion USD. That’s the average, so some are much more.
And I’d like to know if this stated price is the sticker price. Insurance companies negotiate much less than sticker price, I live in a country with a government drug department that negotiates much lower prices by doing a single contract for the whole country.
Is this that stupid thing where the sticker price is high but no one actually pays that, it’s just to make insurance companies feel like they are negotiating good deals?