this post was submitted on 21 Oct 2023
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Pfizer says it will price Covid treatment Paxlovid at nearly $1,400 for a five-day course, which researchers estimate only costs Pfizer $13 to produce. That's a 10,000%+ markup. Shameful. (mastodon.world)
submitted 1 year ago by i_have_no_enemies@lemmy.world to c/technology@lemmy.world
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[–] Dave@lemmy.nz 0 points 1 year ago* (last edited 1 year ago)

Average drug research costs are estimated at between 1-3 billion USD. That's the average, so some are much more.

And I'd like to know if this stated price is the sticker price. Insurance companies negotiate much less than sticker price, I live in a country with a government drug department that negotiates much lower prices by doing a single contract for the whole country.

Is this that stupid thing where the sticker price is high but no one actually pays that, it's just to make insurance companies feel like they are negotiating good deals?