09:36 AM EDT, 09/26/2024 (MT Newswires) -- Pfizer ( PFE ) has signed up only 10 of the 45 countries targeted under a program to make the company's drugs available to low-income nations at not-for-profit prices, Reuters reported Thursday, quoting an interview with Chief Executive Albert Bourla.

The program started in 2022 and was expanded last year to cover more drugs and vaccines, Reuters reported.

"Few countries are really mobilizing themselves to bring the products in," Bourla told Reuters.

"It is extremely challenging in terms of bureaucracy," Reuters quoted Bourla as saying. "They need to change the process of how they're going to procure and they need to register the products, and those are the bottlenecks."

Pfizer ( PFE ) is in talks with 10 more countries to join the program, Reuters said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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