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Pfizer will sell drugs at the non-profit price

Pfizer will sell drugs at the non-profit price

These nations do not have easy access to cutting-edge therapies. 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. The countries on the list are mostly from Africa and Southern Asia.

Pfizer's strategy includes 23 wholly owned, patented medicines and vaccines for infectious illnesses, cancer, and rare and inflammatory disorders, according to the company. The list also includes the pneumonia vaccination “Prevnar 13”, the rheumatoid arthritis medicine “Xeljanz”, and the cancer therapies “Xalkori” and “Inlyta”.

The Covid vaccine “Comirnaty”, which is developed in cooperation with BioNTech was also on the list and will be distributed at non-profit prices. The decision might have something to do with criticism of Pfizer in the beginning of Covid, when they rather sent doses to richer countries and let poorer wait a few months for delivery. 

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Movement of Pfizer stocks in five years period. (Source: Trading Economics)

Sources:

https://tradingeconomics.com/pfe:us

https://medicinespatentpool.org/

https://www.usnews.com/news/world/articles/2022-05-25/pfizer-to-sell-all-its-patented-drugs-at-nonprofit-price-in-low-income-countries#:~:text=(Reuters)%20%2D%20Pfizer%20Inc%20will,good%20access%20to%20innovative%20treatments