"Chinese Elites Hoard COVID-19 Treatments Frenziedly"

Government Officials and Businesspeople Stockpile Pfizer Paxlovid

[Asia Economy Reporter Kwon Haeyoung] As COVID-19 cases surge in China, causing a shortage of treatments, social elites such as businesspeople and government officials are hoarding Paxlovid. Paxlovid is Pfizer's oral COVID-19 pill and the only foreign-made treatment approved by the Chinese government.

On the 28th (local time), major foreign media reported that government officials and businesspeople are purchasing Paxlovid at excessively high prices to protect their elderly parents, family, and friends. It is reported that China's elite class is stockpiling Paxlovid and even distributing it to curry favor with business partners in cooperative relationships.

Currently, the COVID-19 treatments approved by the Chinese government are Paxlovid and Azvudine, developed by the Chinese pharmaceutical company Genuine Biotech. Paxlovid is the only foreign pharmaceutical company's COVID-19 treatment in China. While it is generally prescribed to patients ranging from mild to severe cases in other countries, local hospitals in China report that stocks are nearly depleted and it is barely provided only to patients with underlying conditions.

[Image source=Yonhap News]

Foreign media pointed out that this fierce competition for Paxlovid symbolically reflects the inequality in China's health policies. Jin Dongyan, a virologist and professor at the University of Hong Kong, emphasized, "Access to Paxlovid should not be determined by power or wealth," adding, "Paxlovid is a life-saving drug and should be made available to everyone who needs it."

Since China lifted COVID-19 lockdown measures earlier this month, the number of confirmed cases has rapidly increased. According to Chinese epidemic prevention authorities, between the 1st and 20th of this month, 250 million people out of China's 1.4 billion population were infected with COVID-19.