Pfizer CEO Says Company Will Produce 4 Billion Doses of COVID-19 in 2022 – .

Pfizer CEO Says Company Will Produce 4 Billion Doses of COVID-19 in 2022 – .

Global pressure on only a handful of companies producing COVID-19 vaccines was not the scenario expected for fall 2021. But a series of unfortunate events – including the failure of some vaccine companies to create or to ramp up production and increase in the Delta variant – resulted in what health equity advocates have long feared: unequal distribution of vaccines between rich and poor countries.
Pfizer (PFE) CEO Albert Bourla told Yahoo Finance the company understood the need and thus more than doubled its production planned for 2021.

“We have radically changed our strategy. We had invested to produce 1.3 billion doses for 2021, when we realized the situation, we invested a lot more in the system and we were able to increase the volumes to 3 billion for this year, and 4 billion for the year. next, ”Bourla said.

The company is also working on a possible treatment for the new coronavirus. “I keep my fingers crossed that the studies are positive, and I hope we can find out if the studies are positive before the end of the year,” he said.

Pfizer was the first company to receive full authorization as well as full approval for adults in the United States for its COVID-19 vaccine. It also has an authorized booster dose for certain segments of the population. This action has been criticized by some as doses being withdrawn from the world’s poorest populations.

The company, along with its rival Moderna (MRNA), has come under increased pressure from global advocacy groups to produce and deliver more doses to the world instead of focusing on boosters in rich countries.

The United States has pledged more than a billion doses of COVID-19 vaccines worldwide, of which about 200 million have been shipped to date. But experts say more doses are needed.

Pfizer has announced plans to open a manufacturing center with the Biovac Institute of South Africa and expects it to be operational early next year. Until then, giving more doses of the United States – which already administer third doses nationally – remains a short-term solution.

Other countries have also asked to be allowed to donate their unused doses, and recent reports suggest the contract with the company was a hindrance.

Bourla told Yahoo Finance that within two days of receiving such a request, Pfizer was able to work with the country to enable dose sharing.

Meanwhile, the Biden administration backs waiver of intellectual property (IP) rights, a proposal sent by India and South Africa to the World Trade Organization, to encourage technology transfer to countries middle and low income to increase global capacity. Pfizer argued that there is not enough skilled labor in these countries and that in some cases the country’s internal infrastructure is a barrier to fair distribution.

In a recent open letter, Bourla noted that renouncing intellectual property would also create unnecessary competition for raw materials.

“The proposed waiver for COVID-19 vaccines threatens to disrupt the flow of raw materials. It will trigger a rush for the critical inputs we need to make a safe and effective vaccine. Entities with little or no vaccine manufacturing experience are likely to hunt for the raw materials we need to increase our production, endangering the safety and security of all, ”said Bourla.

On Monday, Bourla added that rival Moderna had already offered not to apply its patent and had found no takers, pointing out that there was, in fact, little additional capacity.

Pfizer is now awaiting approval for its vaccine for children aged 5 to 11. A Food and Drug Administration advisory group is expected to meet and discuss the data this week, with a green light scheduled for the Centers for Disease Control in early November.

The vaccine was 90.7% effective with no side effects of concern reported, according to company data.

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