Rabat – American pharmaceutical giant Pfizer announced on Tuesday signing a licensing agreement with the Medicine Patent Pool (MPP), a United Nation public health organization, to increase and facilitate access to medicine for middle and low-income countries.
The agreement between Pfizer and MPP authorizes qualified sub-entities, mainly generic drug manufacturers, to produce and supply Pfizer’s antiviral COVID-19 pill in 95 middle and low-income countries. The move is expected to pave the way for vaccine access equity, with approximately 53% of the global population set to have access to the treatment.
Pfizer previously announced that the oral-antiviral COVID-19 treatment reduces the risk of hospitalization or death by 89% when administered to COVID-19 infected people in the first five days after infection.
At the time of writing, Pfizer hasn’t submitted the pill to the American Food and Drug Administration (FDA) for approval. However, the American drug manufacturer announced that it’s planning to submit the drug for FDA approval by the end of the month.
Under the agreement, Pfizer renounces rights to royalties – the portion of revenues a company receives when it allows a second party to produce a patented product – on the antiviral treatment sold in middle and low-income countries.
The term is valid as long as COVID-19 remains a Public Health emergency under the declaration of the World Health Organization.
According to Pfizer’s official website, low-income countries will pay a “not-for-profit” price, while middle-income countries will pay more than low-income countries.
The company has invested up to $1 billion in the manufacturing and distribution of the COVID-19 treatment. It also works on developing bilateral agreements with governments, with over 100 deals signed with individual countries.
