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How does Pfizer price medicines?
When setting the price of a new medicine we consider the following:
- Its impact on patients and disease,
- Other available treatments,
- Its potential to reduce other health care costs, and
We consult with physicians,insurers and patient groups,and get their feedback.
For example, when setting the price of a new cancer medicine in 2015, we consulted with 80 payers and 120 oncologists and cancer specialists.
We negotiate with insurers, who decide what their policy holders pay for their medicines. We also offer patient assistance when patients can’t afford their medicines.
We recently doubled the allowable income level for our patient assistance program in the U.S., so that even more patients in need could be eligible to receive their Pfizer medicines for free.