Pfizer Paxlovid prescriptions to treat Covid increased tenfold in U.S. since late February
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PfizerTuesday’s announcement said that prescriptions for the Covid-19 oral antiviral have increased tenfold in America since February. The increase is because more pharmacies are receiving supply and there has been an increase in demand.
Albert Bourla, CEO an earnings callTuesday morning’s news revealed that nearly 80.000 patients received Paxlovid treatment in the U.S. during the week ended April 22nd, up from a mere 8,000 in February. Bourla reported that there are now more than 33,000 Paxlovid-supplied sites across the U.S., an increase of fourfold over February.
Pfizer stock shares were trading higher than 1% on Tuesday afternoon.
The supply of Paxlovid was limited in the initial rollout over winter. However, Pfizer is increasing production Bourla reported that 6 million of these courses were produced by March’s end. Bourla stated that Pfizer has a target of producing 30 million and 120 million of its courses by 2022, respectively.
Pfizer reported Tuesday that Paxlovid sales increased by $1.5 billion for its first quarter. It also maintained its 2022 sales guidance of $22 Billion. Angela Hwang from Pfizer, the head of biopharmaceuticals at Pfizer, said Tuesday that the demand for antivirals will rise as countries reorder dosages and reduce the eligibility age.
As governments loosen restrictions on public health, covid transmission will rise. Paxlovid, which will be used to treat people infected with the virus, will also play an important part in this process, Hwang stated. She said that Pfizer does not have inventory because each dose is shipped.
U.S. ordered 20 million Paxlovid course, with delivery of 10 million of them in June, and the completion of the remaining 10 million by September. according to the Biden administration.A senior official in administration told reporters that more than 500,000 Paxlovid treatments had been used by patients in the U.S. as of April.
In its fight against Covid the White House has increased distribution of Paxlovid. The Health and Human Services Department hopes to provide the antiviral at 40,000 locations throughout the nation. At least 2200 locations have been set up in the United States where Paxlovid can be administered to people who test positive. These include pharmacies, long-term care facilities, and community health centers.
Paxlovid was approved by the Food and Drug Administration in December. It is available for both adults and children 12 and over who have been infected with Covid and are at high risk of serious illness. Merck’s molnupiravir, which was soon approved by FDA, should be only used in adult patients over the age of 18 who are not able to access other Covid treatments.
Clinical trials showed that Paxlovid performed better and was safer than molnupiravir. Pfizer’s Antiviral reduced hospitalization and death rates by 90% for adults suffering from Covid. Clinical trials with Molnupiravir showed that it reduced hospitalizations and deaths by 30% among Covid patients who were at high risk for severe illnesses.
Bourla explained that Paxlovid currently has a 90% share of the U.S. market for molnupiravir compared to Merck in long-term and retail care markets. According to Bourla, the antiviral treatment is currently approved in more than 60 countries. Pfizer has begun discussions with other market participants to make it available.
Paxlovid is prescribed to patients for a course of three tablets two times daily over five days. Pfizer developed the course and it includes one tablet each of two nirmatrelvir pills as well as one tablet of ritonavir. Ritonavir is an important HIV drug. Nirmatrelvir stops the Covid virus from reproducing and ritonavir slows patient metabolism so that the drug remains active for longer periods.
Although Paxlovid prevents death and hospitalization in patients with Covid, clinical trials results released Friday showed that it was not effective in preventing infection by the virus.
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