Pfizer Inc (NYSE:PFE) is looking to build on the success of its COVID-19 vaccine rollout by introducing a direct-to-consumer medicines platform under the brand "Pfizer for All."
The move, reflected in a recent trademark application, aims to provide medical information, mail-order pharmacy, and telehealth services to US patients.
Recent reports indicate Pfizer's intention to include various medications, including its COVID antiviral Paxlovid and diagnostic kits, on the platform later this year, expanding its offerings to cater to diverse healthcare needs.
Related: Pfizer Agrees To Settle Over 10,000 Lawsuits About Cancer Risks Associated With Discontinued Heartburn Drug Zantac.
The platform will offer a "downloadable mobile application for providing medical information" as well as "mail order pharmacy services" and "diagnostic test kits . . . for use in disease screening and detection", according to the trademark application, the FT writes.
This initiative follows similar endeavors in the pharmaceutical industry to bypass traditional middlemen and directly reach consumers.
Earlier this year, Eli Lilly And Co (NYSE:LLY) launched its LillyDirect platform, marking an industry first.
The "Pfizer for All" platform is positioned as a healthcare equity endeavor, seeking to simplify the often convoluted process through which US patients obtain their medications, the Financial Times highlights.
Citing the sources familiar with the plans, the FT notes that Pfizer intends to leverage its brand equity gained from its pivotal role in combating the Covid-19 crisis.
Despite Pfizer's favorable reception during the height of the vaccine rollout, its favorability score has experienced fluctuations. The company's stock value has also declined from its pandemic peak, facing skepticism from investors regarding its growth trajectory.
However, Timothy Mackey, a professor of global health at the University of California San Diego, believes that Pfizer's approach may resonate positively with consumers despite mixed sentiments surrounding pharmaceutical companies.
Price Action: PFE shares are up 1.30% at $28.38 at last check Monday.
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