Charity after profiteering, the Big Pharma way

Pfizer to sell its medicines at no profit in world's poorest countries, and other big names to make cancer drugs more accessible

- LATHA JISHNU

MAY COULD be considered the month of penitence. It was the month that Big Pharma appear to have discovered its conscience if, indeed, that's what it was. Two initiatives were announced to address the health needs of the world's poorest countries: one, by Pfizer at the World Economic Forum in Davos and another, by a group of other large pharma companies which joined hands with global health organisations at a side-event of the World Health Assembly in Geneva. Both are aimed at improving global health equity.

Pfizer, by far the world's top revenue earner thanks to its COVID-19 vaccine Comirnaty, launched an extensive "Accord for a Healthier World" project. The US drug giant promises to provide all of its patented, high-quality medicines and vaccines available in the US and the European Union on a not-for-profit basis to people in 45 lower-income countries. The company "seeks to greatly reduce the health inequities that exist between many lower-income countries and the rest of the world".

Comirnaty, described as the fastest-selling drug in pharma history, contributed the bulk of Pfizer's sales of $72 billion last year, and a reason why it has faced constant flak from the public health groups. They say the company has not done enough to help poor countries during the worst of the pandemic (see 'Calling out Albert Bourla and Big Pharma', Down To Earth, 16-31 January 2022) and provide access to lifesaving medicines. Did the worldwide censure, despite the honours and market accolades the company has earned for developing Comirnaty in a short span, prompt Pfizer to come up with this seemingly generous project? Perhaps, it did; beyond the market is a company reputation and that has been undeniably dented.