- Thirty-five generic drugmakers will produce low-cost versions of Pfizer Inc's (NYSE:PFE) COVID-19 pill, Paxlovid, to expand supplies of the highly effective drug in lower-income regions.
- Pfizer struck a deal last year with the group to allow generic drugmakers to make the pills for 95 low- and middle-income countries, covering up to approximately 53% of the world's population.
- The UN-backed Medicines Patent Pool said last week that manufacturers might be ready to supply the first pills by December. Larger quantities may only reach the market in May 2023, reports Bloomberg, citing analytics firm Airfinity Ltd estimates.
- The 35 companies include Teva Pharmaceutical Industries Ltd (NYSE:TEVA) and Viatris Inc (NASDAQ:VTRS).
- The non-exclusive sublicenses allow generic manufacturers to produce the raw ingredients for nirmatrelvir and/or the finished drug co-packaged with ritonavir.
- Six companies will focus on producing the drug substance, nine companies will make the drug product, and the remainder will do both.
- A license has also been offered to a company in Ukraine, and the offer will remain available to them as they cannot sign due to the current conflict.
- Price Action: PFE shares are up 2.07% at $54.02 during the market session on the last check Thursday.
