Pfizer will not sell drugs for profit in poor nations

Pfizer, the world’s largest pharmaceutical company, has announced that it will no longer benefit from the sale of its patented medications in 45 low-income nations.

The plan, according to Pfizer, comprises 23 patented medications and vaccines for infectious and uncommon inflammatory illnesses, as well as specific malignancies.

According to the statement, new medicines and vaccines will also be sold at cost.

The company has been chastised in the past for profiting from coronavirus vaccinations.

According to Pfizer, the strategy will include coronavirus vaccination and antiviral treatment.

The company claims that the change will help over a billion individuals.

“We are aware that countries face a number of challenges in gaining access to our medicines.” That is why we have chosen five pilot countries to identify and develop operational solutions before sharing our findings with the rest of the world, “Pfizer Biopharmaceuticals Group group president Angela Hwang stated.”

Bill Gates, the co-chair of the Bill and Melinda Gates Foundation, expressed his hope that more companies would follow suit.

Mr Gates stated, “We’re thrilled to be collaborating with Pfizer, and we’re talking to the entire pharmaceutical business about these kinds of efforts.”

During the pandemic, the company came under fire for continuing to profit from their COVID vaccinations, unlike pharmaceutical company AstraZeneca.

Mr Bourla has also asked the WHO and other partners for assistance with the logistics of prescribing and distributing the drugs.

Rwanda, Ghana, Malawi, Uganda, and Senegal have all expressed interest in joining the company’s “Accord for a Healthier World.”

The arrangement, according to Malawi President Lazarus Chakwera, will allow the countries and the company to share “the weight of costs and tasks in the manufacturing and distribution of supplies that will save millions of lives.”

Rwandan President Paul Kagame expressed his hope that other firms would follow Pfizer’s lead.

“In this sense, Pfizer’s commitment under the Accord programme establishes a new benchmark, which we hope to see others follow.”