Pfizer Commits 10M Courses Of COVID-19 Oral Antiviral To Developing Countries: Reuters

Pfizer Inc PFE is expected to provide around 10 million courses of its highly effective COVID-19 antiviral treatment Paxlovid to low- and middle-income countries in 2022, reports Reuters citing an official with the Global Fund.
The Fund's head of strategy for policy, Harley Feldbaum, said Pfizer had committed at least that many doses and could increase shipments later if organizations involved show they can distribute the pills well.
He noted that most of the doses would be available toward the end of 2022.
"That's obviously not enough or sufficient" to meet the need in those countries, said Feldbaum.
Pfizer has said it would charge less for the drug in lower-income countries but has not disclosed a price.
It plans to charge around $700 per treatment course for wealthy countries, though its U.S. deal priced Paxlovid at $530.
Pfizer has agreed to allow generic drugmakers to produce versions of Paxlovid for low-and middle-income countries through a deal with the international public health group Medicines Patent Pool (MPP).
But Pfizer and MPP do not expect any of the generic drugmakers to manufacture a significant supply of the drug by year-end.
MPP expects to announce in mid-March that generic drugmakers have signed agreements to produce Paxlovid.
Price Action: PFE shares are up 1.15% at $48.25 during the market session on the last check Thursday.