Saturday, October 16, 2021

Pfizer promises tiered pricing for its Covid-19 vaccine – ET HealthWorld

Mumbai: US drugmaker Pfizer said on Tuesday it will have differential pricing for its Covid-19 vaccine as the company starts delivering millions of doses to countries where it expects to receive regulatory approval in the coming months.

Differential, or tiered pricing, is when prices are set depending on the GDP of a country.

“We will have tiered pricing for middle-income countries (India is considered a middle-income country) and we will give it for free in Africa,” Albert Bourla, CEO of Pfizer, said at a press conference organised by the International Federation of Pharmaceutical Manufacturers and Associations.

In the US, where the Food and Drug Administration approved the company’s vaccine, Pfizer has set a price of $19.50 for a single dose.

“This is the price of one meal,” Bourla said, adding that Pfizer is in negotiations with governments around the world.

The mRNA technology-based vaccine has an efficacy of over 90% with a double dose and 67% with a single dose.

Last week, New York-based Pfizer sought emergency-use approval for its Covid-19 vaccine from Indian regulators. A decision will be taken by the Subject Expert Committee in the coming weeks.

Pfizer/BioNTech’s vaccine was developed in record time and launched as part of the formal vaccination drive by the UK government on Tuesday, making it the first Covid-19 vaccine to be administered anywhere in the world.

While the vaccine relies on new and safe technology, the -70C storage requirement could become an issue in countries with poor storage facilities. Pfizer is working on another version of the vaccine that requires less stringent storage requirements.

While Pfizer has said it will sell its vaccine for profit, Janssen Pharma, a part of Johnson & Johnson, said it will sell its Covid-19 vaccine at cost. “We won’t be selling the vaccine for profit as we developed it with multiple partners,” said Paul Stoffels, chief scientific officer, Janssen Pharma.

Source link

Latest Articles

Widely used chemical linked to 1,00,000 US deaths per year: Study

NEW YORK: Daily exposure to phthalates, a group of chemicals used in everything from plastic containers to makeup, may lead to approximately 100,000 deaths...

Foods to Reduce Inflammation and Strengthen the Immune System

Did you know that you can greatly reduce inflammation and boost your immune system by simply incorporating more anti-inflammatory foods and beverages into your...

Personal Selling

INTRODUCTION Early sellers and traders were not held in high esteem. The Roman word for salesman meant ‘Cheater’ and...

Building Muscle on a Vegan Diet

There are a lot of  misconceptions surrounding veganism. The notion that those who practice it are lacking in protein and therefore muscles is the...

Electrodes in brain new hope for severe cases of epilepsy

Neurosurgeons at All India Institute of Medical Sciences have devised a new technique for operating on children suffering from a severe form of epilepsy...