Pfizer Offers Low-Cost Drugs And Vaccines—Including Covid Treatments—To World’s Poorest Countries

Pfizer said on Wednesday that it will make its patented medicines and vaccines available to low-income countries on a not-for-profit basis in a bid to narrow the global healthcare gap.

The company said it would sell its patented medicines and vaccines in the U.S. and EU on a not-for-profit basis.

The initiative was announced at the World Economic Forum's annual meeting in Switzerland and will make 23 medicines and vaccines available to treat infectious diseases, some cancers and rare and inflammatory diseases.

1.2 billion people living in 45 lower-income countries will be covered by the scheme.

Five countries have already joined the accord and will work to identify other barriers to healthcare beyond the supply of medicines.

The learnings from these five countries will be applied to support the roll out.

Pfizer CEO Albert Bourla said that the company will work with health leaders to make improvements to overcome other obstacles after the Covid-19 vaccine roll out.

PLAY Forbes Business Full Screen About Connatix Read More Read More Read More Read More Read More Read More 1/1 Skip Ad Continue watching after the ad Visit Advertiser websiteGO TO PAGE

There are new additions. New medicines and vaccines will be added to the not-for-profit portfolio by Pfizer. One of the leading causes of stillbirth and newborn death in low-income countries is Group B Streptococcus, and the company is working with the Bill & Melinda Gates Foundation to develop a vaccine. Pfizer is working on a vaccine for Respiratory syncytial virus, a leading killer of children around the world. Everyone, no matter where they live, should have the same access to innovative, life-saving drugs and vaccines, said Bill Gates, who co-chairs the foundation.

Pfizer and other pharmaceutical companies came under fire for the distribution of their coronaviruses vaccine. The shots went to wealthy countries even though they had not given the vaccine to all high-risk groups. The debate on whether to waive certain intellectual property rights to life saving vaccines and medicines was revived by the rise of inequality.

Pfizer warns of constant waves of Covid.

Patents aren't enough to speed up production.

Live updates on the coronaviruses.