China, Pfizer hit deadlock over Paxlovid's price amid Covid-19 surge

Talks to negotiate a lower price for Pfizer Inc.’s Covid antiviral pill Paxlovid in China didn’t pan out, the health authority said, creating a quandary for the government amid a rampant outbreak in the world’s most populous nation.

Pfizer and the government agency that oversees the state medical insurance program failed to agree on a further cut on the price of Paxlovid, which initially sold for 2,300 yuan ($339) and was recently lowered to about 1,900 yuan for a course of treatment, according to Chinese media reports. It is currently covered by state medical insurance under a provisional measure, which