Pfizer announced on Wednesday that it plans to sell all its branded drugs at cost prices in as many as 45 low-income countries, one of the most comprehensive and ambitious drug acquisition plans ever announced by major international pharmaceutical companies The program will first be launched in five African countries to provide 23 drugs to treat cancer, rare diseases, inflammation and infectious diseases. It will eventually include all Pfizer's future therapeutic drugs or vaccines.
Pfizer said the drugs would be sold at production costs, usually only a fraction of the market price in the United States or Europe. The company also plans to invest in local health systems to improve diagnostic capacity, obtain drug approval and ensure that doctors know how to use these drugs.
During the new coronavirus pandemic, Pfizer sold the new coronavirus vaccine in low-income countries at about $7 per dose, close to its cost, compared with $19.50 in the United States. For novel coronavirus and other diseases, peer pharmaceutical manufacturers have carried out similar low-cost projects, especially for common diseases in developing countries. But for most drug categories, many of the latest and most advanced therapies may take years to enter the low-income market.
After Wednesday's announcement, Pfizer will open the project to any other low-income country, as well as countries that have transitioned from low-income to low - and middle-income countries in accordance with the world bank's definition over the past decade. This includes most of sub Saharan Africa, as well as countries in Asia and the Middle East, including Bangladesh, Cambodia, Laos, Syria and Yemen. The world bank defines low-income countries as countries with a per capita gross national income of less than $1000 a year.