Pfizer announced on Wednesday that it will begin commercializing its anti-coronavirus drug Paxlovid later this year, priced at $1,390 for a five-day course of treatment. That’s more than double what the company has charged governments during the pandemic ($529).

"Paxlovid is priced based on its value to patients, healthcare providers and the healthcare system," a Pfizer spokesman said in a text message confirming the new commercial price.

The spokesperson said company executives have been clear from the beginning that prices for private payers will increase once the pandemic is over.

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