Pfizer Inc. expanded its program to offer its products at not-for-profit prices in poor countries to include 500 drugs and vaccines.
(Bloomberg) — Pfizer Inc. expanded its program to offer its products at not-for-profit prices in poor countries to include 500 drugs and vaccines.
The program, available in 45 low- and lower-middle-income countries, had previously offered just 23 products at the lower prices, Pfizer said Tuesday in a statement. It includes medicines and vaccines, both patented and off-patent, under a program called An Accord for a Healthier World that started in May.
Pfizer originally announced the program at the 2022 World Economic Forum in Davos, Switzerland, committing to lower prices for treatments for infectious diseases, certain cancers, and rare and inflammatory diseases that annually take the lives of about 1 million people in the affected countries. Pfizer started the program to address global inequities in health, Chief Executive Officer Albert Bourla said in the statement.
“This expansion of our product offering, combined with continued efforts to help address the barriers that limit or prevent access, will help us to achieve and even expedite our vision of a world where all people have access to the medicines and vaccines they need to live longer and healthier lives,” he said.
Pfizer fell as much as 4.5% in New York trading on Tuesday.
–With assistance from Tanaz Meghjani.
(Updates with opening shares in final paragraph.)
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