• Funding to Support Development of New Antibiotics as Part of Broader Industry Effort
• New Partnership with More than 20 Other Companies Will Focus on Medicines that Address Most Resistant Bacteria and Life-Threatening Infections
• Builds on Pfizer’s longstanding work to address the global burden of infectious diseases

NEW YORK--(BUSINESS WIRE)-- Pfizer Inc. (NYSE: PFE) announced today it has pledged $100 million to the new Antimicrobial Resistance (AMR) Action Fund, which launched today, to help address the significant global public health need for new antibiotics due to the rapid rise of antibiotic-resistant infections.

The AMR Action Fund is a ground-breaking collaboration among more than 20 biopharmaceutical companies that aims to bring 2-4 new antibiotics to patients by 2030 through collaboration between pharmaceutical companies, philanthropies, development banks, and multilateral organizations to re-invigorate and accelerate antibiotic development.

“As the COVID-19 pandemic has shown, we must invest in the development of medicines now so that we are prepared to help prevent the next public health crisis,” said Pfizer Chairman and Chief Executive Albert Bourla. “We strongly believe the world cannot tackle the growing threat of AMR without collaboration – and that it will take a combination of prevention measures, responsible stewardship and innovative thinking to overcome existing obstacles. The new AMR Action Fund gives us the vehicle to do that by investing in and stimulating a potentially stronger pipeline for antimicrobial medicines.”

Each year 700,000 people die from AMR. By 2050, it is estimated that AMR could claim as many as 10 million lives per year. To combat AMR, antibiotics should only be used when necessary to preserve their effectiveness.

While antibiotics revolutionized medicine in the 20th century and, together with vaccination, have led to the near eradication of many diseases in the developed world, over time, bacteria change and adapt to the use of antibiotics, rendering them ineffective. This makes it more difficult to treat common infections such as pneumonia, tuberculosis and salmonellosis, leading to longer hospital stays, higher medical costs and increased mortality.

Pfizer takes a multi-pronged approach to tackling AMR. We are a leading developer of vaccines that help prevent infections in the first place, reducing the need for antibiotics that may result in resistant strains. We are also one of the few large research-based pharmaceutical companies still active in research and development for anti-infectives, and work with partners to close critical prevention and treatment gaps in infectious disease around the globe. In addition, we are committed to responsible antibiotic stewardship, and are proud to offer one of the largest and most accessible AMR surveillance programs in the world, called ATLAS – the only platform that provides public access to both antifungal and antibacterial resistance data through a single resource. ATLAS is accessible freely to anyone, anywhere via the Web or the ATLAS mobile application.

Pfizer’s commitment to the AMR Action Fund builds on our long-standing work fighting infectious diseases and reducing health disparities for patients in the United States and globally. In partnership with organizations around the world, Pfizer is redefining the way we fight infectious diseases by creating meaningful and sustainable solutions that address today’s biggest health challenges and protect the world’s most vulnerable people.

About Pfizer: Breakthroughs That Change Patients’ Lives

At Pfizer, we apply science and our global resources to bring therapies to people that extend and significantly improve their lives. We strive to set the standard for quality, safety and value in the discovery, development and manufacture of health care products, including innovative medicines and vaccines. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as one of the world's premier innovative biopharmaceutical companies, we collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world. For more than 150 years, we have worked to make a difference for all who rely on us. We routinely post information that may be important to investors on our website at www.Pfizer.com. In addition, to learn more, please visit us on www.Pfizer.com and follow us on Twitter at @Pfizer and @Pfizer News, LinkedIn, YouTube and like us on Facebook at Facebook.com/Pfizer.

DISCLOSURE NOTICE: The information contained in this release is as of July 9, 2020. The Company assumes no obligation to update forward-looking statements contained in this release as a result of new information or future events or developments.

This release contains forward-looking information about Pfizer’s pledge to the new Antimicrobial Resistance (AMR) Action Fund to help address the significant global public health need for new antibiotics due to the rapid rise of antibiotic-resistant infections, including its potential benefits, that involves substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things, uncertainties related to the effectiveness of the AMR Action Fund, the uncertainties inherent in research and development; the uncertainties inherent in business and financial planning, including, without limitation, risks related to Pfizer’s business and prospects, adverse developments in Pfizer’s markets, or adverse developments in the U.S. or global capital markets, credit markets, regulatory environment or economies generally; the impact of COVID-19 on our business, operations and financial results; and competitive developments.

A further description of risks and uncertainties can be found in Pfizer’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and in its subsequent reports on Form 10-Q, including in the sections thereof captioned “Risk Factors” and “Forward-Looking Information and Factors That May Affect Future Results,” as well as in its subsequent reports on Form 8-K, all of which are filed with the U.S. Securities and Exchange Commission and available at www.sec.gov and www.pfizer.com.

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Source: Pfizer Inc.