BEIJING (Reuters) – China will not include Pfizer’s (PFE.N)’s Paxlovid in its updated list of drugs covered by the basic health insurance system. The Health Care Security Administration (NHSA) said Sunday.
COVID-19 antivirals are now covered by the country’s broader health care system under temporary measures introduced by regulators last March as the outbreak increased.
However, officials recently spoke with Pfizer to determine whether to include it in the latest version of the list, which is updated annually.
Being on the list means you can access the drug through your state’s insurance system. This will increase the volume, but with the condition that the manufacturer will reduce the price. In past rounds, pharmaceutical companies have cut prices by up to 62% after negotiating with officials.
In a statement, Pfizer said, “We will continue to work with the Chinese government and all relevant stakeholders to ensure an adequate supply of Paxlovid in China.” We will continue to work to meet the requirements,” but did not disclose details.
The NHSA said Paxlovid will continue to be eligible for state medical insurance payments through the current planned end date of the temporary measure on March 31.
Negotiations on Paxlovid fell through, but two other COVID-19 treatments — the Chinese herbal medicine Qingfei Paidu granules and Chinese drugmaker Genuine Biotech’s Azvudine — were successful and included in the updated list, the regulator said. Stated.
Three years after the pandemic, China began to pivot from its signature “COVID-zero” policy last month after historic protests against economic-damaging restrictions advocated by President Xi Jinping.
The sudden easing of restrictions has fueled a huge wave of infections, prompting many to turn to underground channels to procure therapeutics such as Paxlovid, which has shown high levels of success in clinical trials. It has been found to reduce hospital admissions for at-risk patients by about 90%.
According to local media reports and social media posts, a box of Pax Lovid is trading for 50,000 yuan ($7,313.15), more than 20 times its original price of 2,300 yuan.
The Chinese government, which has largely resisted Western vaccines, has given the go-ahead to foreign oral treatments Paxlovid and Merck (MRK.N)’s molnupiravir. Approved Pax Lovid in February.
Reuters reported on Saturday, citing sources, that China was in talks with Pfizer to secure a license that would allow domestic drugmakers to manufacture and sell generic versions of Paxlovid.
Last month, China Meheko Group (600056.SS) announced Wednesday that it had signed a deal with Pfizer to import and distribute Paxlovid in mainland China.
Pfizer also signed a deal in August with Chinese pharmaceutical company Zhejiang Huahai (600521.SS) to manufacture paxlovid in mainland China exclusively for mainland Chinese patients.
($1 = 6.8370 Chinese Yuan)
Reporting by Brenda Goh, Yingzhi Yang, and Roxanne Liu. Editing by Raissa Kasolowsky, Elaine Hardcastle and Daniel Wallis
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