Pfizer offers to sell medicines at cost to world’s poorest countries

WASHINGTON: U.S. 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,” Group President of the Pfizer Biopharmaceuticals Group Angela Hwang said.

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.

Developing countries experience 70 percent of the world’s disease burden but receive only 15 percent of global health spending, leading to devastating outcomes. Across sub-Saharan Africa, one child in 13 dies before their fifth birthday, compared to one in 199 in high-income countries. Cancer-related mortality rates are also far higher in low and middle-income countries — causing more fatalities in Africa every year than malaria. All this is set to a backdrop of limited access to the latest drugs.

Essential medicines and vaccines typically take four to seven years longer to reach the poorest countries, and supply chain issues and poorly resourced health systems make it difficult for patients to receive them once approved. – JAPAN TODAY