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28 September, 2022
 
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Pfizer: License to use Covid-19 pill patent in 95 countries

Cheaper for developing countries

Kathimerini Greece Newsroom

Pfizer has reached a licensing agreement that will allow other pharmaceutical companies to produce generic Covid19 pill in low-cost versions in 95 countries to serve low- and middle-income earners.

Pfizer followed Merck's example and announced a licensing agreement with the UN-backed Medicines Patent Pool to extend low-cost access to its Covid-19 antiviral pill throughout the developing world.

According to the Financial Times, the deal marks the first time the US pharmaceutical company has agreed to share technology behind a Covid-19 medical product, as opposed to refusing to license its vaccine to generic manufacturers.

We must work to ensure that all people - regardless of where they live or their circumstances - have access to these discoveries.

The unlicensed deal with MPP will boost Pfizer's global supply of antiviral pill, which reduces the risk of hospitalization and death from the virus by almost 90 percent in end-stage trials.

Generic manufacturers will now be able to produce the drug before it is approved by regulators to speed up its supply to low- and middle-income countries, experts said.

"We must work to ensure that all people - regardless of where they live or their circumstances - have access to these discoveries and we are pleased to work with the MPP to promote our commitment to equality," he said. Albert Bourla, CEO of Pfizer.

Pfizer is under pressure over its refusal to share the technology behind the Covid-19 vaccine it developed with its German partner BioNTech. He has predicted that vaccine sales will reach $ 36 billion in 2021 and $ 29 billion in 2022.

Source: Financial Times

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Cyprus  |  Pfizer  |  COVID  |  pill

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