Pfizer slashes drug prices for poorest nations, expanding access

The initiative will eventually include all of the New York-based company’s future therapies or vaccines.

Pfizer Inc. plans to sell its entire portfolio of brand-name drugs at cost in as many as 45 lower-income countries, one of the most comprehensive and ambitious drug-access programs ever announced by a large pharmaceutical manufacturer.

The initiative will start in five African countries with 23 drugs for cancer, rare illnesses, inflammatory conditions and infectious diseases. It will eventually include all of the New York-based company’s future therapies or vaccines. The drugs will be sold at the cost of manufacturing, Pfizer said, typically a fraction of their price in U.S. or European markets. The company also plans to invest in local health systems to improve diagnostic capabilities, get the drugs approved and make sure doctors know how to administer them.