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Reuters
Reuters
Business
Michael Erman

Pfizer to sell all its patented drugs at nonprofit price in low-income countries

Albert Bourla, CEO of Pfizer gestures during a discussion at the World Economic Forum (WEF) in Davos, Switzerland May 25, 2022. REUTERS/Arnd Wiegmann

Pfizer Inc will make all of its patented medicines including COVID-19 treatment Paxlovid and big-selling breast cancer drug Ibrance available at a not-for-profit price to 45 of the world's poorest countries, the drugmaker said on Wednesday.

These countries lack good access to innovative treatments. It can take four to seven years longer for new treatments to become available in low-income countries, according to the Bill & Melinda Gates Foundation, if they become available at all.

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