Pfizer Selling its Patented Drugs at Nonprofit Prices to Low Income Countries

Pharmaceutical and biotechnology company dedicated to discovering, developing, manufacturing and marketing prescription medications Pfizer Inc. (PFE) will be selling all of its patented drugs at a nonprofit making prices to 45 of the world’s poorest countries. The company made this announcement on May 25.

These drugs will include COVID-19 treatment Paxlovid and big-selling breast cancer drug Ibrance the 45 countries lack good access to innovative treatments. The company says the plan includes 23 wholly owned patented medicines and vaccines that treat infectious diseases, certain cancers, and rare and inflammatory diseases.

Other than Paxlovid and Ibrance, the list also includes rheumatoid arthritis drug Xeljanz, cancer treatments Xalkori and Inlyta and pneumonia vaccine Prevnar 13. The COVID-19 vaccine developed in partnership with BioNTech SE is also in the list.

“But clearly the antiviral (Paxlovid) is going to be a very big deal for them – if they need it they can get it immediately,” said the company’s CEO, Albert Bourla, when asked when the drugs will be available for use.

In addition the CEO said they have also established that some of the countries lack basic health infrastructure making it hard for roll out of the drugs.

Instead of washing our hands and saying, I gave you the product, do whatever you want with them. We’re saying, we’ll give you the products and we will sit with you to see how we can help organize a system that can utilize them,” added the CEO.

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