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Pfizer cuts price of Prevnar for Third World

March 24, 2010 12:00 am • Last Updated: March 24, 2010 2:05 am

Major drug companies Pfizer Inc. and GlaxoSmithKline have agreed to supply pneumonia-prevention vaccines to some of the world's poorest countries at a fraction of the price paid in the West.

The 10-year agreement with the GAVI Alliance announced Tuesday will be funded with an initial $1.5 billion contribution from five countries and the Bill & Melinda Gates Foundation.

Drug companies will provide medicines at $3.50 a dose in a program expected to save nearly a million lives in the first five years.

Pfizer, with R&D campuses in Groton and New London, will provide doses of its pneumococcal vaccine Prevnar.

- Lee Howard

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