Pfizer (NYSE: PFE) is set to provide up to 4 million doses of its Covid-19 pill, Paxlovid, to low and middle-income countries amid an agreement with Unicef, the global relief organization. The pledge accounts for a little more than 3% of the company’s estimated yearly production of 120 million Paxlovid courses.
The American multinational pharmaceutical company expects to begin supplying the pills to UNICEF by next month and will do so throughout the year. The low-income nations will be given the pills at a not-for-profit price, though upper-middle-income countries will be paying more amid a tiered pricing system, according to Pfizer. Nevertheless, the company has yet to disclose any financial information regarding the agreement.
“Supplying to Unicef is an important part of our comprehensive strategy to accelerate access to Paxlovid to treat Covid-19 infection as quickly as possible and at an affordable price,” Pfizer Chief Executive Officer Albert Bourla said in the statement.
Paxlovid is thought to be an important tool in the fight against Covid-19 as it has reduced hospitalizations in high-risk patients by approximately 90% within the clinical trial. The company’s results were much better than those for Merck & Co’s rival antiviral pill Molnupiravir during its clinical trial.
Additionally, a Pfizer spokesperson revealed that it was also in talks with the World Health Organization and the Access to Covid-19 tools Accelerator (ACT-A).
“We will share more details on supply agreements with these entities as we are able to,” Pfizer spokesman Kit Longley said. “We are in continued conversations with a number of private partners and international organizations to provide Paxlovid to lower-income countries.”