Pfizer pledges not to pursue profits with products in 45 countries

US pharma giant Pfizer (NYSE: PFE) has launched an initiative that it calls ‘An Accord for a Healthier World’.

The company, which has seen its sales and profits spiral since the COVID-19 pandemic, aims to provide all of Pfizer’s patented, high-quality medicines and vaccines available in the USA or the European Union on a not-for-profit basis to 1.2 billion people in 45 lower-income countries.

"As we learned in the global COVID-19 vaccine roll-out, supply is only the first step to helping patients"With this initiative, Pfizer says that it wants to ‘greatly reduce the health inequities that exist between many lower-income countries and the rest of the world’.