(Yicai Global) Jan. 5 -- The northern Chinese city of Tianjin is investigating the case of an individual who sold Pfizer's oral Covid-19 drug Paxlovid at 12 times the official price.

Law enforcement agencies on Jan. 3 launched an investigation into a person surnamed Jia who bought a box of Paxlovid from another individual, Qi, for CNY7,000 (USD1,020) and then resold it for CNY12,000 (USD1,740), China News reported yesterday.

Paxlovid has been included in China's medical insurance program at CNY2,300 a box, but the price was later cut to CNY1,890 on Dec. 28.

Qi was selling two boxes of Paxlovid that he obtained from his brother, who works for an online hospital, on his WeChat Moments, according to law enforcement officers.

During the investigation, Tianjin's law enforcement authorities also found that Jia had bought another box of Paxlovid for CNY1,890 and resold it for CNY7,000.

Market regulators in Tianjin reminded the public that it is strictly forbidden for individuals to distribute drugs and medical devices, as they are special goods and a pharmaceutical license is needed to deal in them. Lawbreakers face punishment for several offenses and criminal liability, they said.

Drugmakers and distributers should clearly mark prices according to the law and refrain from making unapproved mark-ups, manipulating market prices, or disrupting the market price order, the regulators added.

Editor: Futura Costaglione