– Pfizer Inc.’s Paxlovid stockpiles in Europe and the UK worth $2.2 billion are nearing expiration due to declining demand for Covid-19 treatment.
– About $1.1 billion worth of doses have already expired as of November.
– The UK will bear the brunt of the loss, with an estimated 1 million expired courses totaling $700 million.
– Reduced sales have led to a cut in the sales outlook, reflecting decreased demand for Paxlovid as pandemic concerns diminish.
– Overall, the expiration of these Covid drug doses will cost Europe and the UK a significant financial blow of $2.2 billion.
– Stakeholders are now facing the challenge of managing surplus stockpiles to minimize the financial impact.