• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs

2

Meet the Zillennials: The luckiest micro-generation in the workforce, born between 1993 and 1998

3

Economists have found an answer to slowing cognitive decline: Avoid retiring early, study finds

1

Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs

2

Meet the Zillennials: The luckiest micro-generation in the workforce, born between 1993 and 1998

3

Economists have found an answer to slowing cognitive decline: Avoid retiring early, study finds
Health

Pfizer pledges equitable access to COVID-19 pill through new licensing agreement

Grady McGregor
By
Grady McGregor
Grady McGregor
Down Arrow Button Icon
Grady McGregor
By
Grady McGregor
Grady McGregor
Down Arrow Button Icon
November 16, 2021, 6:45 AM ET
Add Fortune on Google for similar content.

On Tuesday, U.S. pharmaceutical giant Pfizer announced that it had signed a new licensing agreement with the Medicines Patent Pool (MPP), a United Nations–backed organization, that will help supply Pfizer’s antiviral COVID-19 pill to lower- and middle-income countries.

Earlier this month, Pfizer announced that its COVID-19 pill reduced the risk of hospitalization and death among COVID-19 patients by 89%, fueling hope that the drug will give the world another defense against the worst effects of the coronavirus.

Pfizer’s new partnership with the MPP opens the door for Pfizer to supply its COVID drug to the world’s poorest and most vaccine-starved countries. The licensing agreement authorizes the MPP to facilitate production of the pill by granting “sublicenses” to qualified generic drug manufacturers and distribute doses based on need, according to a statement.

“We must work to ensure that all people—regardless of where they live or their circumstances—have access to these breakthroughs, and we are pleased to be able to work with MPP to further our commitment to equity,” Albert Bourla, Pfizer CEO, said in the statement.

Pfizer’s COVID-19 pill, called Paxlovid, is given to patients at high risk of developing severe infections after an initial COVID diagnosis. An interim trial found that 0.8% of patients who received Paxlovid after getting diagnosed with COVID-19 were hospitalized after 28 days. For patients who received a placebo, 7% required hospitalization after 28 days.

Pfizer’s pill has not been approved by the U.S. Food and Drug Administration or any other health authority, and the company has not yet released detailed data from its interim study. Still, Bourla said, Pfizer plans to submit its FDA application before Thanksgiving and expects to have 21 million doses ready to deploy by the first half of 2022. Pfizer noted it has ceased enrolling new patients in its clinical trial owing to the “overwhelming efficacy” demonstrated and plans to submit documentation to the FDA for approval as soon as possible.

Pfizer’s commitment to equitable access to its new COVID-19 treatment comes as the firm reported strong revenue this month on the back of its highly effective mRNA COVID-19 vaccine that it developed with Germany’s BioNTech. Pfizer reported in early November that through the third quarter of 2021 it had earned $24.3 billion in revenue from its COVID-19 vaccine. It expects its 2021 COVID-19 vaccine revenue to rise to $36 billion by the end of the year.

Pfizer has faced criticism for earning such profits during the pandemic while much of the world’s poorest countries continue go without vaccines.

“It is obscene that just a few companies are making millions of dollars in profit every single hour, while just 2% of people in low-income countries have been fully vaccinated against coronavirus,” Maaza Seyoum, African coordinator of the People’s Vaccine Alliance, said in a press release on Tuesday. “Pfizer, BioNTech, and Moderna have used their monopolies to prioritize the most profitable contracts with the richest governments, leaving low-income countries out in the cold.”

The World Health Organization, the U.S., and dozens of countries have backed a call for the World Trade Organization to drop manufacturers’ exclusive intellectual property rights to COVID-19 vaccines. Supporters of a waiver say it could help ramp up vaccine production and allow lower-income countries to access the jabs.

Bourla opposes waiving intellectual property rights for COVID-19 vaccines. He argues that doing so would “create more problems” by potentially disrupting the supplies of raw materials.

But with its oral antiviral pill, Pfizer appears to be taking a different path in providing its formula to generic manufacturers.

In October, Merck made a similar decision to allow generic manufacturers to produce its antiviral pill, which trials show reduces the risk of hospitalization and death among COVID-19 patients by 50%. The U.S. drugmaker is also partnering with the MPP to send Merck’s recipe to a network of global manufacturers.

Twenty-four leading pharmaceutical manufacturers around the world have committed to an MPP pledge to collaborate on producing COVID-19 treatments like Pfizer’s pill for low-income countries. One of the signatories of the MPP’s pledge, Indian generic drugmaker Dr. Reddy’s, said this week that it’s willing to produce Pfizer’s antiviral pill once it gets approved in the U.S. Dr. Reddy’s did not specify what it might charge for the drug, but said it does not expect to make profits from selling antiviral treatments.

“[Pfizer’s licensing agreement with the MPP] is so important because, if authorized or approved, this oral drug is particularly well suited for low- and middle-income countries,” Charles Gore, executive director of MPP, said in a statement.

More health care and Big Pharma coverage from Fortune:

  • Biden’s vaccine mandate may be tied up in court—but employers shouldn’t wait to enforce it, say legal experts
  • State Farm publicly supports NFL’s Aaron Rodgers after his vaccine comments—while quietly removing most of his ads
  • How Big Bird became the unlikely target of GOP senators
  • Denmark ditched its COVID rules 2 months ago. Now cases are up—and restrictions are coming back
  • Air purifiers and CO2 monitors are the new pencil and paper in classrooms

Subscribe to Fortune Daily to get essential business stories delivered straight to your inbox each morning.

About the Author
Grady McGregor
By Grady McGregor
LinkedIn iconTwitter icon
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Health

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Health

Photo: Paris, france
Environmentclimate change
Brutal heatwave in France is killing 2,000 people per week, undertakers are overwhelmed, and health agency says there’s worse to come
By John Leicester and The Associated PressJuly 3, 2026
6 hours ago
Opti-Greens 50 Review (2026): Insights from Hands-On Testing
HealthDietary Supplements
Opti-Greens 50 Review (2026): Insights from Hands-On Testing
By Christina SnyderJuly 2, 2026
1 day ago
A man shaves wood pieces from a block.
EconomyRetirement
Economists have found an answer to slowing cognitive decline: Avoid retiring early, study finds
By Sasha RogelbergJuly 2, 2026
1 day ago
The Best Compact Ellipticals of 2026: Tested by Fitness Fanatics
HealthDietary Supplements
The Best Compact Ellipticals of 2026: Tested by Fitness Fanatics
By Emily PharesJuly 2, 2026
1 day ago
The 6 Best Exercise Bikes of 2026: Fitness Expert Reviewed
HealthDietary Supplements
The 6 Best Exercise Bikes of 2026: Fitness Expert Reviewed
By Christina SnyderJuly 1, 2026
2 days ago
kean
PoliticsCongress
Tom Kean discloses depression diagnosis behind 4-month absence from Congress: ‘until you experience it yourself, it is difficult to fully understand’
By Mike Catalini, Joey Cappelletti and The Associated PressJune 30, 2026
3 days ago

Most Popular

Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs
Law
Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs
By Wyatte Grantham-Philips and The Associated PressJuly 2, 2026
1 day ago
Meet the Zillennials: The luckiest micro-generation in the workforce, born between 1993 and 1998
AI
Meet the Zillennials: The luckiest micro-generation in the workforce, born between 1993 and 1998
By Nick LichtenbergJuly 3, 2026
13 hours ago
Economists have found an answer to slowing cognitive decline: Avoid retiring early, study finds
Economy
Economists have found an answer to slowing cognitive decline: Avoid retiring early, study finds
By Sasha RogelbergJuly 2, 2026
1 day ago
On Wall Street, analysts increasingly don’t believe the U.S. government’s 'misleading' job numbers
Economy
On Wall Street, analysts increasingly don’t believe the U.S. government’s 'misleading' job numbers
By Jim EdwardsJuly 3, 2026
9 hours ago
Mark Zuckerberg feeds his cows macadamia nuts and beer to create the 'highest-quality beef in the world' on his $300 million estate in Hawaii
Success
Mark Zuckerberg feeds his cows macadamia nuts and beer to create the 'highest-quality beef in the world' on his $300 million estate in Hawaii
By Sasha RogelbergJuly 2, 2026
1 day ago
Current price of oil as of July 2, 2026
Personal Finance
Current price of oil as of July 2, 2026
By Joseph HostetlerJuly 2, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.