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The US pharmaceutical giant Pfizer has announced it will sell some of its patented drugs at non-profit prices to the world's poorest countries.

The non-profit price will take into account the cost to manufacture and transport each product to the port of entry.

Launching the initiative at the World Economic Forum in Davos, Pfizer said it would focus on infectious diseases, cancer, inflammation, rare illnesses and women's health.

The company's Covid vaccine and anti-viral treatment are included in the scheme.

Five African countries including Rwanda, Senegal and Uganda will be the first beneficiaries.

Developing countries experience 70% of the world's disease burden but receive only 15% of global health spending.