Merck, Pfizer rebuff China’s efforts to cut Covid drug prices, Bloomberg says

Merck (MRK) and Pfizer (PFE) are pushing back on China’s efforts to get the drugmakers to reduce prices on Covid drugs, Bloomberg reports. Merck’s molnupiravir, also known as Lagevrio, will sell in China for 1,500 yuan, or $221, per bottle, according to the report, which adds that while it costs less than in many western countries, it signals the company didn’t agree to a request by Chinese authorities to further reduce the price. The report also adds that talks between Pfizer and Chinese agency that oversees the $423B state medical insurance program to cut the price of antiviral Paxlovid failed over the weekend. Reference Link