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Paxlovid does seem to be working great for those who can take it. 
The funny/ not funny thing is it costs a fortune per dose and the govt pays for it. But the paxlovid recipe is just 2 existing antivirals for hiv that have been around for years and are cheap generic drugs repackaged in a single pill and re patented. 
I read in india they just give you 2 pills of those antivirals in the same box instead of paying for paxlovid.
Other than the vaccine, has any treatment or medication against COVID ever made it into production?  
There's been a new "promising new treatment" for COVID pretty much every week since it began, yet none of them ever seem to go anywhere. >

To expand on what /u/Man_Bear_Beaver said - paxlovid is an absolute gamechanger and could (if actually used...) prevent around 60-80% of the hospitalizations, depending on the study.
The evidence is there, that's why it has also been approved by (at least, don't know about other countries) the EU and the US to be used for treating covid.
As long as it's being taken as soon as the first symptoms appear/you test positive, it's going to improve chances by a lot.
Sadly, for some reason physicians seem to be massively lagging behind and don't prescribe it often enough to high-risk-patients. 
More details can be found in the related papers, for example this one.