PFIZER offers to sell medicines at cost price to the poorest countries

Published: May 27, 2022
Updated: May 27, 2022
PFIZER

PFIZER gives underprivileged nations cost-price drugs

It has been reported recently that Pfizer has announced on Wednesday that it will be donating over two dozen medications to some of the world’s poorest countries, which also includes its best-selling COVID-19 vaccination and therapy.

The program was announced at the World Economic Forum’s annual meeting in Davos, Switzerland, with the goal of increasing health equity in 45 low-income nations. The majority of the countries are in Africa, although Haiti, Syria, Cambodia, and North Korea are also on the list.

The drugs and vaccines, which are widely available in the United States and the European Union, treat infectious disorders, some malignancies, and uncommon and inflammatory conditions. Only a tiny number of drugs and vaccinations are presently available in 45 countries, according to company spokeswoman Pam Eisele.

Pfizer, based in New York, will only collect production costs and “minor” distribution fees, according to Eisele. It will abide by any punishments imposed as well as all other applicable laws.

The pharmaceutical company also intends to assist with public education, healthcare professional training, and drug supply management.

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During a discussion in Davos on Wednesday, Pfizer Chairman and CEO Albert Bourla remarked, “What we realized through the pandemic was that supply was not enough to resolve the difficulties that these countries are having.”

These countries do not have easy access to cutting-edge treatments. According to the Bill & Melinda Gates Foundation, innovative therapies in low-income countries can take four to seven years to become available, if they become available at all.

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Pfizer’s arrangement incorporates 23 completely possessed, protected prescriptions, and immunizations for irresistible infections, malignant growth, and interesting and provocative sicknesses, as indicated by the organization. 

Paxlovid and Ibrance are among the medications on the rundown, which likewise incorporate Prevnar 13, a pneumonia immunization, Xeljanz, a rheumatoid joint inflammation medication, and the malignant growth medicines Xalkori and Inlyta.

Comirnaty’s COVID-19 immunization, created in a joint effort with BioNTech SE, was likewise on the rundown.

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In a meeting, Chief Executive Albert Bourla expressed that all medications made accessible ought to be valuable. “Be that as it may, unquestionably, the antiviral (Paxlovid) will be a tremendous arrangement for them – they’ll have the option to get it immediately on the off chance that they need it,” he said.

It expressed, “When Pfizer dispatches new prescriptions and immunizations, they will be remembered for the medication portfolio at a not-for-profit estimating.”

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The vast majority of Africa and quite a bit of Southeast Asia are covered by the 27 low-pay nations and 18 lower-pay nations remembered for Pfizer’s “An Accord for a Healthier World.” Five nations have proactively focused on joining the understanding, which was uncovered at the World Economic Forum in Davos. They are Rwanda, Ghana, Malawi, Senegal, and Uganda.

The agreement will allow the countries and the drugmaker to share “the weight of costs and tasks in the development and distribution of supplies that will save millions of lives,” according to Malawi President Lazarus Chakwera.

Pfizer has been chastised for its COVID-19 vaccine rollout, with some poorer nations having to wait months after the first doses arrived in wealthier ones.

The problems of that rollout, according to Bourla, were influenced by the new agreement, particularly the lack of health infrastructure in some nations, which made delivering the vaccine problematic.

“Rather than washing our hands and saying, ‘I gave you the stuff, do whatever you want with it,’ we’re saying, ‘We’ll give you the things and we’ll sit with you to see how we can help organize a system that can use them,'” Bourla explained.

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