Pfizer offers to sell medicines at cost to poorest countries

Pfizer offers to sell medicines at cost to poorest countries

DAVOS, Switzerland — US pharmaceutical giant Pfizer on Wednesday said it would sell its patented drugs on 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.

"The time is now to begin closing this gap" between people with access to the latest treatments and those going without, Chief Executive Albert Bourla told attendees at the exclusive Swiss mountain resort gathering.

"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.