Paxlovid prescriptions exceed ₩10B in Q2 amid resurge

Paxlovid prescriptions exceeded 10 KRW billion in the second quarter amid the COVID-19 resurgence

Second quarter prescriptions reach KRW 11.4 billion, with a cumulative total of KRW 23.7 billion since October last year

Prescriptions for Paxlovid increased as COVID-19 cases surged in March and April

Quarterly prescriptions for the COVID-19 treatment Paxlovid have surpassed KRW 100 billion.

 

Since entering the prescription market in October last year, usage has rapidly increased, with cumulative prescriptions reaching KRW 23.7 billion.

 

This is believed to be due to the resurgence of COVID-19 in South Korea in March and April this year.

 

According to the market research institution UBIST on the 15th, Paxlovid's domestic prescription sales in the second quarter reached KRW 11.4 billion.

 

Paxlovid is an oral antiviral drug that helps inhibit the proliferation of the COVID-19 virus.

 

It is mainly prescribed to high-risk patients who are at risk of developing severe illness.

 

Initially, the government directly purchased and distributed the drug free of charge, but in June last year, the government halted new supplies, shifting distribution to general medical institutions with prescriptions.

 

In October last year, Paxlovid was approved for reimbursement and entered the prescription market in earnest.

 

The insurance price ceiling was set at KRW 941,940, with the patient’s coinsurance rate set at 5%.

 

Patients can now obtain a prescription for the drug at an out-of-pocket cost of around KRW 50,000.

 

After entering the prescription market, Paxlovid has rapidly expanded its prescription sales.

 

Paxlovid's prescription sales, which amounted to KRW 4.1 billion in the fourth quarter of last year, doubled to KRW 8.2 billion in the first quarter of this year in just 3 months.

 

In the second quarter of this year, it increased by 40% to exceed KRW 10 billion.

 

Cumulative prescription sales to date have reached KRW 23.7 billion won.

 

Monthly Paxlovid prescriptions

This is analyzed as a result of the resurgence of COVID-19 in the first half of this year.

 

According to the Korea Disease Control and Prevention Agency's weekly COVID-19 report, the number of COVID-19 patients reported by 221 hospitals under sample surveillance remained at an average of 70 throughout the fourth quarter of last year, but surged to 143 in the first week of January this year.

 

After a brief lull, the number began to rise again in March.

 

In the first week of April, the number increased to 185, marking the beginning of a resurgence, which continued through May.

 

The number of severe COVID-19 patients requiring hospitalization, for whom Paxlovid prescriptions are concentrated, also increased significantly after April.

 

During this period, monthly Paxlovid prescription sales also rose sharply.

 

In particular, sales reached KRW 48 billion in April alone.

 

The prescription performance of Paxlovid in the second half of the year is expected to vary depending on the COVID-19 outbreak situation after July.

 

The industry predicts that Paxlovid prescriptions may increase again if COVID-19, influenza, and colds spread simultaneously in the fall, as in previous years.

 

COVID-19 cases in Korea (sample surveillance)