US to pay Pfizer $5.29 billion for potential COVID-19 treatment if regulators authorise it

In the largest purchase agreement yet for a COVID-19 therapy, the United States government will pay drug manufacturer Pfizer $5.29 billion for 10 million treatment courses of their potential COVID-19 oral treatment if the Food and Drug Administration (FDA) approves it, the Associated Press news reported. The potential oral treatment amounts to $529 per course. This comes after Pfizer approached the FDA on Tuesday to authorise the emergency use of its experimental pill, which reduces hospitalisation rate and death among infected patients.

The FDA is currently reviewing Pfizer's competitor Merck and is expected to hold a meeting on it later this month. The US has also agreed to pay a sum of $700 per course for 3.1 million Merck's drugs. The deals will come only after FDA authorisation and will be a part of steps to ensure treatments for COVID-19 are "easily accessible and free," AP reported quoting US President Joe Biden. "This treatment could prove to be another critical tool in our arsenal that will accelerate our path out of the pandemic,” Biden had said. He also reiterated Pfizer CEO Albert Bourla's suggestions stressing that vaccines and boosters along with pills remain the strongest tool against the virus.

Meanwhile, Pfizer has started rolling out applications for approval of its potential oral treatment, Paxlovid. As per AP, there are also advanced purchase agreements with other governments awaiting authorisation from the FDA. Additionally, on Tuesday, Pfizer signed a deal with an UN-backed group to allow generic drug manufacturers to produce inexpensive versions of the potential oral treatment for certain countries.

Pfizer claims its antiviral pill reduces hospitalisation and death risk by 90%

Earlier in November, Pfizer Inc. claimed that its COVID-19 antiviral pill minimised hospitalisation and death risk by 90% among at-risk adults. The assertions come as the company joins the race to bring the first-easy-to-use coronavirus treatment to the market in the US, as per AP. Following the announcement, Pfizer stated that it will approach the FDA and international regulators to approve the drug as soon as feasible. If approved, the pill will be marketed by the name Paxlovid.

As per an AP report, Pfizer conducted preliminary trials on 775 adults to record the findings. When compared to patients who took a placebo pill, individuals who received the company's drug paired with another antiviral quickly after developing COVID-19 symptoms had an 89% lower combined rate of hospitalisation or death after a month. Only around 1% of people who took the medicine needed to be admitted to the hospital, and no one died. Participants in the trial were unvaccinated and showed mild symptoms of COVID-19. Trials on them began 3 to 5 days after initial symptoms. The drug now awaits FDA approval for Emergency Authorisation in the US.

(With inputs from AP)

(Image: AP)