Pfizer's COVID-19 pill would soon be available as cheap medicine. This will be made possible by the health firm's latest licensing agreement, which states that the company would allow generic-drug manufacturers to produce its antiviral medicine's inexpensive versions. 

Cheap Pfizer COVID-19 Pill? New Licensing Agreement to Allow Generic-Drug Makers to Produce the Medicine
(Photo : Photo by Mario Tama/Getty Images)
NEW YORK - JANUARY 26: A Pfizer sign hangs on the outside of their headquarters after a news conference discussing the planned merger of Pfizer and Wyeth January 26, 2009 in New York City. Pfizer plans to acquire Wyeth for $68 billion creating the world's largest biopharmaceutical company.

Right now, cheap drugs, especially those which could prevent the novel coronavirus, are essential since the pandemic is still affecting many countries, especially third worlds. 

"We believe oral antiviral treatments can play a vital role in reducing the severity of COVID-19 infections, decreasing the strain on our healthcare systems, and saving lives," said Pfizer's Chairman and Chief Execute Officer, Albert Bourla, via Medicines Patent Pool's press release. 

He added that health firms across the globe should work with one another so that all people worldwide would have access to Pfizer's new COVID-19 pill and other similar medications. 

Cheap Pfizer COVID-19 Pill

According to The Street's latest report, Pfizer's new health innovation would benefit a total of 95 low-income and middle-income countries. 

Cheap Pfizer COVID-19 Pill? New Licensing Agreement to Allow Generic-Drug Makers to Produce the Medicine
(Photo : Photo by KENA BETANCUR/AFP via Getty Images)
People walk by the Pfizer world headquarters in New York on November 9, 2020. - Pfizer stock surged higher on November 9, 2020 prior to the opening of Wall Street trading after the company announced its vaccine is "90 percent effective" against Covid-19 infections. The news cheered markets worldwide, especially as coronavirus cases are spiking, forcing millions of people back into lockdown.

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The company confirmed that it signed an agreement with the Medicines Patent Pool, a United Nations-supported health agency. But, the upcoming generic COVID-19 pills still need to be approved by regulators. 

Aside from the generic version of Pfizer's antiviral pill, researchers across the globe are also creating other health innovations. Recently, we reported that a new device, which has a lung cancer early detection feature, is being developed. 

On the other hand, the new Cobi Robot is now being used to give COVID-19 vaccine shots without causing any pain.  

Other Details of Pfizer's MPP Agreement

Pfizer's new licensing agreement with MPP explained that the medicine manufacturers qualified for the health innovation would be able to supply PF-07321332 in combination with ritonavir. 

On the other hand, the giant medical firm announced that it would not implement royalties on sales in developing countries. 

For more news updates about Pfizer's antiviral pill and other COVID-19 innovations, always keep your tabs open here at TechTimes.  

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Written by: Griffin Davis

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