Since China abandoned its zero compensation policy and opened up to the outside world last year, demand for new corona treatments, including Paxlovid, has increased. Pfizer (USA: PFE) CEO Albert Bourla told a health care conference on Monday that Pfizer is collaborating with companies in mainland China to produce and sell the new oral corona antiviral drug Paxlovide in the first half of this year. But he didn’t name the partners.
However, the national media “The Paper” disclosed that Zhejiang Huahai Pharmaceutical Co., Ltd. signed the “Master Production and Supply Agreement” with Pfizer in August 2022. Pfizer sells Paxlovid in mainland China market and provides manufacturing services under contract for preparations . The report quotes Huahai Pharmaceutical as saying that the company is currently collaborating with Pfizer to accelerate the work of the Paxlovid localized manufacturing project to ensure sufficient supply of Paxlovid in the Chinese market and continue to meet the treatment needs of Chinese patients for the new crown. .
Albert Bourla refuted rumors at the meeting that the company had failed to negotiate with mainland China for the license to manufacture Paxlovid generics.
A few days ago, Pfizer Paxlovid was not listed by Chinese medical insurance due to its high quotation. Albert Bourla replied that the deal broke down after China asked for a lower price than the company for most of low- and middle-income countries. Albert Bourla further stated, “They are the second largest economy in the world and I don’t think they should pay less than El Salvador.” But he said that although Paxlovid has not been included in the medical insurance catalog and can ultimately only be sold to the private market in China, it will not affect the company’s business in China.
At present, Paxlovid has entered community hospitals in some inland cities and is prescribed by doctors. The medical insurance price is 1890 yuan/box (30 capsules in total). Albert Bourla said the company has shipped millions of rounds of the drug to China in recent weeks.
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