China is in talks with US company Pfizer to obtain a license that allows local pharmaceutical companies to produce and distribute a version of the Covid-19 drug Paxlovid in China. Negotiations with Pfizer have been ongoing since the end of last month, Reuters reported.
The source added that Beijing is aiming to finalize the terms of the license agreement before the Lunar New Year, which begins on January 22.
Chinese hospitals are under severe pressure after the government abruptly reversed its zero-Covid policy last month, leading to a spike in infections. A rising wave of infections across the country has overwhelmed hospitals, emptied pharmacies of medicines and sparked international alarm.
Clinical trials have shown that Paxlovid reduces the hospitalization of high-risk patients by nearly 90 percent.
And the demand for this drug is growing, and many Chinese are trying to get it abroad and send it to China.
Beijing is largely opposed to Western vaccines and treatments. The oral drug Baxlovid was one of the few approved foreign drugs.
In February last year, China approved Paxlovid for the treatment of high-risk patients in several provinces. Last month, Pfizer reached an agreement to export Paxlovid to China through a local company to make the drug more affordable.
A Pfizer spokesperson said the company is actively working with Chinese authorities and all stakeholders to ensure sufficient supply of Paxlovid in China.
