Pfizer lowers drug prices for some of the world’s poorest nations

Pfizer stated Wednesday that it’s going to present practically two dozen merchandise, together with its top-selling COVID-19 vaccine and remedy, at not-for-profit costs in among the world’s poorest international locations.

The drugmaker introduced this system on the World Financial Discussion board’s annual gathering in Davos, Switzerland, and stated it was aimed toward enhancing well being fairness in 45 lower-income international locations. Many of the international locations are in Africa, however the listing additionally consists of Haiti, Syria, Cambodia and North Korea.

The merchandise, that are broadly accessible within the US and the European Union, embrace 23 medicines and vaccines that deal with infectious ailments, some cancers and uncommon and inflammatory situations. Firm spokeswoman Pam Eisele stated solely a small variety of the medicines and vaccines are at present accessible within the 45 international locations.

New York-based Pfizer will cost solely manufacturing prices and “minimal” distribution bills, Eisele stated. It’ll adjust to any sanctions and all different relevant legal guidelines.

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The drugmaker additionally plans to supply assist with public schooling, coaching for well being care suppliers and drug provide administration.

“What we found via the pandemic was that offer was not sufficient to resolve the problems that these international locations are having,” Pfizer Chairman and CEO Albert Bourla stated Wednesday throughout a chat at Davos.

He famous that billions of doses of the corporate’s COVID-19 vaccine, Comirnaty, have been supplied totally free to low-income international locations, primarily via the US authorities, however these doses cannot be used proper now.

Earlier this month, the pinnacle of the World Well being Group known as on Pfizer to make its COVID-19 remedy extra broadly accessible in poorer international locations.

Comirnaty introduced in practically $37 billion in gross sales final yr, and analysts anticipate the corporate’s COVID-19 remedy from Paxlovid so as to add virtually $24 billion this yr, in line with the information agency FactSet.

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