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COVID-19 vaccine pricing to help governments to ensure little to no out-of-pocket costs for individuals: Pfizer

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For this pandemic interval, the corporate’s pricing method is predicated on the precept of guaranteeing broad entry and provides to the governments, a Pfizer spokesperson stated in a press release.

Global pharma main Pfizer has stated its coronavirus (COVID-19) vaccine is being priced in a manner that may help governments to ensure that there’s little to no out-of-pocket costs for their individuals, because it seeks to ensure entry to the vaccine the world over.

For this pandemic interval, the corporate’s pricing method is predicated on the precept of guaranteeing broad entry and provides to the governments, a Pfizer spokesperson stated in a press release.

The firm’s decision-making shouldn’t be being pushed by conventional value/profit evaluation, it added.

“Our pricing strategy is an outcome of volume, advanced commitment, equity and affordability principles. We are pricing in a way that can help governments to ensure that there is little to no out-of-pocket costs for their populations. We remain committed to engaging with the Government of India and explore opportunities to make this vaccine available for use in the country,” the assertion stated.

The firm’s Indian arm has sought emergency use authorisation (EUA) for the Pfizer/BioNTech vaccine towards COVID-19 within the nation from the drug regulator.

The firm additionally stated governments globally are creating complete and strategic pandemic response plans. At this time, it’s most applicable that any vaccine that receives regulatory approval is made out there to governments for use as per their plan.

“Therefore, at this stage, our priority is to ensure the availability of this vaccine for use by governments across the world. During this pandemic phase, Pfizer will supply this vaccine only through government contracts based on agreements with respective government authorities and following regulatory authorisation or approval,” the assertion stated.

Earlier this month, Pfizer Inc Chairman and CEO Albert Bourla stated at a digital press convention organised by International Federation of Pharmaceutical Manufacturers and Associations (IFPMA) that “the fundamental that went into the pricing was that we make sure we make it very quickly available to everyone”.

“We are having a tier pricing. It is one price for the developed world based on their GDP, another price, lower for the middle-income countries and in the low-income countries, like countries in Africa etc, we are giving it on a not-on-profit base,” he added.

Even in developed international locations, the worth is what they’ll afford to pay. In the U.S., the worth is $19.50, the worth of a mean meal, Mr. Bourla had stated.

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