Pfizer expects to make as much as $22bn from its new Covid pill this year, on top of $37bn it made in 2021 from the vaccine. Pfizer’s Paxlovid currently costs about $530 for a five-day course of the treatment. Merck’s molnupiravir, now approved for use in the U.K., costs about $700. Reportedly, the cost of production for molnupiravir stands at about $17.74. Experts across the board are predicting demand for antiviral drugs will rapidly outpace supply.
Here is a copy of a talk I recently gave via Zoom to my European colleagues.
KEY POINTS: According to the West Health Policy Center large pharmaceutical manufacturers could endure significant revenue reductions, including the reductions considered in recent legislative proposals, while maintaining current research investments and still achieve the highest returns of any market sector.
IN SUMMARY: I have been critical of big pharma because they keep their loyalty to Wall Street instead of patients. When the really good people within the industry learn to take risks and be heard the industry might change.
- There has been a transformation within the pharma industry during the last decade.
- Although they say that patients are first their actions indicate that Wall Street is first.
- It starts with CEO’s that are over compensated and brainwashing employees to believe their products benefit all of us.
- Career “pharma employees” are hurting the industry while people who understand the challenges are being driven out of the industry.
- Phony pharma awards don’t help acknowledge the problems of the industry.