Covid-19 vaccine pricing to help governments ensure little or no direct costs to people: Pfizer | India news

NEW DELHI: Pfizer, the world’s largest pharmaceutical company, said the price of its Covid-19 vaccine has been valued in a way that helps governments ensure that costs to their employees are minimal or zero, as it seeks to ensure access to the vaccine worldwide.
For this pandemic period, the company’s pricing approach is based on the principle of ensuring broad access and supplies to governments, a Pfizer spokesperson said in a statement.
The company’s decision-making process is not driven by traditional cost-benefit analysis, he added.
“Our pricing strategy is the result of the principles of volume, advanced engagement, fairness and affordability. We are pricing in a way that can help governments ensure there are no direct costs to their populations.
“We remain committed to engaging with the Indian government and exploring opportunities to make this vaccine available for use in the country,” the statement said.
The company’s Indian arm has applied for Emergency Use Authorization (EUA) for Pfizer / BioNTech vaccine against Covid-19 in the country from the drug regulator.
The company also said governments around the world are developing global and strategic pandemic response plans. At this time, it is more appropriate that any vaccine that receives regulatory approval be made available to governments for use according to their plan.
“Therefore, at this stage, our priority is to ensure the availability of this vaccine for use by governments around the world. During this phase of the pandemic, Pfizer will only supply this vaccine through government contracts based on agreements with their respective companies. government authorities and with prior regulatory clearance. or approval, “the statement said.
Earlier this month, Pfizer Inc president and chief executive officer Albert Bourla said in a virtual press conference organized by the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA) that “the fundamental basis for the price was that we make sure we make it available very quickly for everyone “.
“We have a tier price. It is a price for the developed world based on their GDP, another price, lower for middle income countries and low income countries, like countries in Africa etc., we are giving it up a non-profit base, “he added.
Even in developed countries, the price is what they can afford to pay. In the United States, the price is $ 19.50, the price of an average meal, Bourla said.