Pfizer to supply Global Fund up to 6 million courses of its COVID antiviral Paxlovid for low-and-middle-income countries

Pfizer Inc. PFE, -1.90% said Thursday it has reached an agreement to supply up to six million treatment courses of its COVID antiviral Paxlovid to the Global Fund for low and middle-income countries. The company said it expects supply to be available starting in 2022, pending regulatory authorization or approval and based on demand from individual countries. “Through Global Fund’s framework and mechanism, eligible countries will be offered treatment courses according to Pfizer’s tiered pricing approach, where all low- and lower-middle-income countries will pay a not-for-profit price while upper-middle-income countries will pay the price defined in Pfizer’s tiered pricing approach,” the company said in a statement. Pfizer shares were slightly lower premarket and are down 26% in the year to date, while the S&P 500 SPX, -1.71% has fallen 20%.