Active Stocks
Sat Mar 02 2024 12:49:58
  1. Tata Steel share price
  2. 155.15 3.43%
  1. HDFC Bank share price
  2. 1,430.35 -0.06%
  1. State Bank Of India share price
  2. 773.05 0.49%
  1. Tata Motors share price
  2. 988.40 1.15%
  1. Wipro share price
  2. 522.65 0.67%
Business News/ Science / Health/  Covid-19 vaccine to have differential pricing for different countries: Pfizer
BackBack

Covid-19 vaccine to have differential pricing for different countries: Pfizer

The company's Indian arm has sought emergency use authorisation (EUA) for the Pfizer/BioNTech vaccine against COVID-19 in the country from the Indian drug regulator

FILE PHOTO: A woman holds a small bottle labeled with a 'Coronavirus COVID-19 Vaccine' sticker and a medical syringe in front of displayed Pfizer logo in this illustration. (REUTERS)Premium
FILE PHOTO: A woman holds a small bottle labeled with a 'Coronavirus COVID-19 Vaccine' sticker and a medical syringe in front of displayed Pfizer logo in this illustration. (REUTERS)

NEW DELHI : Global pharma major Pfizer has said it will have differential pricing on its COVID-19 vaccine for different countries, as the company aims to make the vaccine available across the world.

The company's Indian arm has sought emergency use authorisation (EUA) for the Pfizer/BioNTech vaccine against COVID-19 in the country from the Indian drug regulator.

After the UK approval for the vaccine, Pfizer and BioNTech are anticipating further regulatory decisions across the globe in the coming days and are ready to deliver vaccine doses following potential regulatory authorisations or approvals, Pfizer had earlier said.

"The fundamental that went into the pricing was that we make sure we make it very quickly available to everyone," Pfizer Inc Chairman and CEO Albert Bourla said at a virtual press conference organised by International Federation of Pharmaceutical Manufacturers and Associations (IFPMA) on Tuesday.

"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 countries, the price is what they can afford to pay. In the US the price is USD 19.50, the price of an average meal, Bourla said.

The company is in talks with various governments for the vaccine, he added.

Bourla also said the company is also working on a new formulation that will be able to avoid the -70 degree requirement and can be stored in simple refrigeration.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
More Less
Published: 09 Dec 2020, 07:26 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App