Business & Finance
MPP says 35 generic drug manufacturers to make cheap version of Pfizer's COVID-19 pill
18 March 2022 -

The UN-backed Medicines Patent Pool (MPP) has said that 35 generic pharmaceutical companies around the world will make low-cost versions of Paxlovid, US pharmaceutical company Pfizer Inc's (NYSE:PFE) COVID-19 oral antiviral, to supply the treatment in 95 poorer countries, Reuters news agency reported on Thursday.

Pfizer agreed a deal with the UN group in 2021 to allow generic drug makers to make the pills for 95 low- and middle-income countries.

According to the MPP, the 35 companies that will produce versions of Paxlovid or its active ingredient are based in 12 different countries. They include some of the world's largest generic manufacturers like Israel's Teva Pharmaceutical Industries (TLV:TEVA), India-based Sun Pharmaceutical Industries (NSE:SUN) and US-based Viatris Inc (Nasdaq:VTRS).

Six of the companies will make the main ingredient for the drug, nine plan to turn that into a finished product and the remaining companies will do both.

Pfizer will not receive royalties from the sale of the generic versions of its drug while COVID-19 remains classified as a "Public Health Emergency of International Concern" by the World Health Organization.

Following the pandemic period, sales to low-income countries will remain royalty free while lower-middle-income countries and upper-middle-income countries will be subject to a 5% royalty for sales to the public sector and a 10% royalty for sales to the private sector, the MPP said.

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