Pfizer To Sell Drugs To World's Poorest Countries On Not-For-Profit Basis
NDTV
Developing countries experience 70 percent of the world's disease burden but receive only 15 percent of global health spending, leading to devastating outcomes.
US pharmaceutical giant Pfizer on Wednesday said it would sell its patented drugs at a not-for-profit basis to the world's poorest countries, as part of a new initiative announced at the World Economic Forum in Davos.
'An Accord for a Healthier World' focuses on five areas: infectious diseases, cancer, inflammation, rare diseases and women's health -- where Pfizer currently holds 23 patents, including the likes of Comirnaty and Paxlovid, its covid vaccine and oral treatment.
"This transformational commitment will increase access to Pfizer- patented medicines and vaccines available in the United States and the European Union to nearly 1.2 billion people," Angela Hwang, group president of the Pfizer Biopharmaceuticals Group told AFP.
Five countries: Rwanda, Ghana, Malawi, Senegal and Uganda have committed to joining, with a further 40 countries -- 27 low-income and 18 lower-middle-income -- eligible to sign bilateral agreements to participate.
