Pfizer lowers cost of Prevnar vaccine for some charity use

Markets Associated Press

Drugmaker Pfizer says it's reducing what it charges humanitarian groups for its blockbuster vaccine against pneumonia, ear and blood infections.

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Pfizer Inc.'s move to reduce Prevnar 13's price to $3.10 per dose — but only for the groups' use with refugees and in other emergency settings — follows pressure since 2009 by groups such as Doctors Without Borders.

"This is definitely a step in the right direction and will help to protect millions of vulnerable children," the charity said.

The biggest U.S. drugmaker previously preferred tax-deductible donations, which don't impact Prevnar's much-higher price. Pfizer's top-selling product, which requires three doses, brings it some $5 billion a year.

Britain's GlaxoSmithKline Plc in September reduced the price of its rival Synflorix pneumococcal vaccine to $3.05 per dose for use in humanitarian emergencies.