Pfizer Will Supply Drugs To UNICEF

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Mar 05, 2015

Pfizer (PFE, Financial) is a leading research-based biopharmaceutical company known for deep industry-leading commitment. It is one of the world's largest pharmaceutical companies by revenues.

Pfizer signed an agreement with UNICEF to supply doses of Prevenar 13 (Pneumococcal Polysaccharide Conjugate Vaccine [13-valent, adsorbed]) to the underdeveloped countries through 2025. Pfizer dedicated itself to channelize vaccine access and extended helping hands to improve health outcome across the poor countries. They are making it possible through the AMC (Advance Market Commitment) programme. Pfizer has a commitment to provide the doses at a subsidized rate. Pfizer has committed to supply the United Nations Children’s Fund (UNICEF) with 260 million doses approximately in addition to 480 million doses of vaccine already committed through previous two supply agreements. The company has decided to offer the dosage of Prevenar 13 through the AMC at the reduced rate of $3.40 per dose for the remaining months of the year at the same time with new agreement the prices will further be reduced to $3.30 all through the remaining time period of the agreement. The constant rate will apply to dosage purchased under the AMC supply agreement.

The supply agreement

The total quantity of supply agreement remained unchanged through the contract term; 52 percent of the AMC funds remained unallocated – nearly $780 million. It will be available for further rounds of calls for offers. The AMC has a unique financial mechanism designed for public health domain. It is accelerating global rollout of vaccines in the developing or underdeveloped countries. It is administered by GAVI alliance. Funds were allocated as:

A new vaccination support was initiated in 2011 which allowed them to meet all requirements. A huge number of countries came forward for the program and wanted to introduce the same in their respective countries. The record number of application was the result of following factors: The lack of an application round in 2010; the temporary waiver of the 70% of DTP coverage requirement; and a last opportunity of eligible countries to apply.

Working towards the healthier world innitiative: Pfizer

Pfizer propagated that it is making a lot of efforts in procuring global resources to bring wellness to the world’s ignored countries. It is extending its helping hands in order to improve lives significantly. Pfizer also works to strive to set the bar of quality in world of pharmacy. They apply science and work continuously towards discovery, development and manufactured best health care products. Pfizer claims that it has been working with and across developed and emerging market to provide them advanced wellness, prevention, treatments and cure that challenged the most feared disease at the moment.

Pfizer remained consistent and committed toward keeping its word. It is consistent with its responsibility as the premier biopharmaceutical company. It collaborates with the world’s best health care providers, governments and local communities to expand their support and promise to provide reliable and affordable wellness.

Status of AMC funds

The World Bank has recorded the AMC donor funds on its financial statements as designated assets. They committed to transfer funds to purchase AMC vaccines; 227% of the AMC funds, approximately $405 million, remained unallocated, due to which the agreement had an additional term. It said, “The contracts are amended annually based on actual supply and demand to ensure that the total quantity on the supply agreement remains unchanged.”

The challenges and future priorities

The current scope and pace of vaccines roll out are humongous. The supply is significantly increased from zero to over 40 million doses. Exploiting the optimum potential of the AMC, GAVI and partners should be confident enough that the target demand will be achieved during the offer period which ends in 2020. Coordination of pneumococcal vaccine introduction: The complexity of coordination of pneumococcal vaccine introductions increases with the number of registered and approved countries. This may require shifting their currently projected introduction dates to future date.

From the strong vote of confidence received by the international community, GAVI alliance is now well positioned to achieve the milestone, and Pfizer will make it possible from its constant efforts. They are all set to defeat the key challenge, short term supply availability, which is projected to be handled by the end of 2015.