Pfizer To Sell 23 Patented Drugs, Vaccines At Lower Prices To Poorer Countries

  • Pfizer Inc PFE will sell over 20 patent-protected drugs and vaccines at not-for-profit prices to 45 of the world's poorest countries.
  • Under the program, Pfizer will begin shipping the medicines first to Ghana, Malawi, Rwanda, Senegal, and Uganda before the end of this year, Chief Executive Albert Bourla said in an interview.
  • This will include expertise to support diagnosis, healthcare professional education & training, supply chain management, and other infrastructure enhancements.
  • Pfizer said its plan includes 23 patented medicines and vaccines for infectious diseases, certain cancers, and rare & inflammatory diseases. 
  • In addition to Paxlovid and Ibrance, the list includes pneumonia vaccine Prevnar 13, rheumatoid arthritis drug Xeljanz and cancer treatments Xalkori and Inlyta.
  • Pfizer will also collaborate with Accord participants to identify quick and efficient regulatory pathways and procurement processes.
  • Additionally, with funding from the Bill & Melinda Gates Foundation, Pfizer is advancing work on developing vaccines to prevent Group B Streptococcus (GBS), a leading cause of stillbirth and newborn mortality in low-income countries. 
  • They are also discussing opportunities to support Respiratory Syncytial Virus (RSV) vaccine development, another maternal vaccine.
  • Price Action: PFE shares are down 0.49% at $53.15 during the premarket session on the last check Wednesday.
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