May 25, 2022 - Health

Pfizer to sell vaccines and drugs at lower price in poorer countries

US pharmaceutical giant Pfizer CEO Albert Bourla attends a press conference on the sidelines of the World Economic Forum (WEF) annual meeting in Davos on May 25, 2022

Pfizer CEO Albert Bourla at a press conference at the World Economic Forum (WEF) meeting in Davos on May 25. Photo: Fabrice Coffrini/AFP via Getty Images

Pfizer announced Wednesday that it will sell its vaccines and medicines that are available in the U.S. or European Union at not-for-profit prices in some of the world's poorest countries.

Driving the news: The drugmaker, which dubbed the program "An Accord for a Healthier World," said it aims to provide all of the company's medicines and vaccines, including the COVID-19 vaccine and treatment, to 45 lower-income countries.

  • Pfizer has also committed to providing 23 medicines and vaccines that treat infectious diseases, certain cancers and rare and inflammatory disease, according to a press release announcing the decision.
  • Pfizer will charge manufacturing costs and "minimal" distribution expenses to deliver the products, company spokesperson Pam Eisele told the Associated Press.
  • The program was announced at the World Economic Forum's annual gathering in Davos, Switzerland.

The big picture: The head of the World Health Organization earlier this month urged Pfizer to make its COVID-19 treatment, Paxlovid, more available in poorer countries.

  • "We remain concerned that low- and middle-income countries remain unable to access antivirals," WHO Director-General Tedros Adhanom Ghebreyesus said, AP reports.

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