The American multinational pharmaceutical and biotechnology corporation, Pfizer Inc., had signed an agreement to authorize its experimental coronavirus disease 2019 treatment pill to be created and traded within 95 developing nations.
The not for profit agreement with the Medicines Patent Pool, a United Nations backed public health organization could make the treatment accessible to 53% of the world’s total population.
According to Pfizer Inc., the pill reduces the dangers of severe disease for vulnerable adults.
Pfizer said, during a statement on Tuesday, November, 16, 2021, that the deal will grant local medicine manufacturers to make the pill with the intent of enabling broader medicinal access to benefit the worldwide population.
In relation to this, Pfizer Inc., will not collect any royalties on the said pill sales within lower income countries and stated that it will eject royalties in all nations covered by the agreement, while Covd-19 continues to be a World Health Organization- designated public health emergency.