Pfizer will offer low-cost medicines and vaccines to 45 developing countries

Pfizer said on Wednesday it will provide nearly two dozen products, including its top-selling COVID-19 vaccine and treatment, at not-for-profit prices in some of the world’s poorest countries.

The drugmaker announced the program at the World Economic Forum’s annual gathering in Davos, Switzerland, and said it aims to improve health equity in 45 low-income countries. Most of the countries are in Africa, but the list also includes Haiti, Syria, Cambodia, and North Korea.

The products, which are widely available in the United States and the European Union, include 23 drugs and vaccines that treat infectious diseases, certain cancers, and rare and inflammatory diseases. Company spokeswoman Pam Epersonisele said only a small number of drugs and vaccines are currently available in all 45 countries.

New York-based Pfizer will charge only “minimal” manufacturing costs and distribution fees, Eisele said. It will comply with all penalties and all other applicable laws.

The drugmaker also plans to provide assistance with public education, training of healthcare providers and drug supply management.

“What we discovered through the pandemic was that there was not enough supply to solve the problems faced by these countries,” Pfizer Chairman and CEO Albert Bourla said Wednesday during an interview. a conference in Davos.

Vials containing Pfizer/BioNTech’s Comirnaty vaccine are pictured at a production facility in Germany last year. The Pfizer CEO said billions of doses of the company’s COVID-19 vaccine have been donated to low-income countries for free, mostly through the US government. (Christian Charisius/Reuters)

He noted that billions of doses of the company’s COVID-19 vaccine, Comirnaty, have been donated to low-income countries for free, mostly through the US government, but those doses cannot be used at this time.

Earlier this month, the head of the World Health Organization called on Pfizer to make its COVID-19 treatment more widely available in poorer countries.

Comirnaty made nearly $37 billion in sales last year, and analysts expect the company’s COVID-19 treatment, Paxlovid, to add nearly $24 billion this year, according to the company. FactSet data.