Pfizer plans no-profit drugs in poorer nations
STORY: Pfizer plans to make all its patented medicines available at a not-for-profit price for the world’s poorest nations.
That will include treatments for infectious diseases and cancers.
The announcement came Wednesday (May 25), with company chief executive Albert Bourla speaking at the Davos gathering of business and world leaders:
"Pfizer is excited and proud to launch an accord for a healthier world. Through this groundbreaking initiative, Pfizer will provide all its patented medicines and vaccines that are available in the U.S. or the European Union on a non-for-profit basis to 1.2 billion people living in 45 lower income countries.”
The deal will include new medicines as they come out.
It was welcomed by African leaders present at the Swiss event, including Rwandan President Paul Kagame:
"Pfizer's commitment under the Accord programme sets a new standard in this regard, which we hope to see emulated by others, combined with additional investments in strengthening Africa's public health systems and the pharmaceutical regulators.”
The Pfizer deal covers 27 designated low-income countries, and 18 other poorer nations.
All have lacked good access to innovative treatments, which can take years to become available in developing countries.
