Pfizer, BioNTech propose EU pays half for each canceled COVID dose: Report

Published: Updated:
Read Mode
100% Font Size
2 min read

Pfizer Inc and BioNTech’s new proposal to the European Union, amid a glut of COVID-19 shots, includes a provision for member states to pay half price, or about 10 euros ($11), for each of about 70 million canceled doses, the Financial Times reported on Sunday.

For the latest headlines, follow our Google News channel online or via the app.

The revised contract would allow the EU to upgrade to newer vaccines tailored to any future COVID-19 variants, the report added, citing people close to negotiations.

In January, Reuters reported talks between the EU and the two drugmakers aimed at reducing up to 500 million COVID-19 vaccine doses Brussels has committed to buy this year in return for a higher price.

The move comes as the bloc plans to revamp laws governing the $148 billion pharmaceuticals industry in the hope of reviving investment and boosting access to affordable drugs at a time when health budgets are drained by the costs of treating COVID-19.

Pfizer declined to comment on the FT report but said discussions had been conducted ‘in good faith by all parties’ while partner BioNTech and the European Medicines Agency (EMA) did not respond to Reuters’ requests for comments.

Read more:

US spending $5 billion to speed up development of new COVID-19 vaccines

US starts testing bird flu vaccines for poultry after record outbreak

People lost faith in childhood vaccines during COVID-19 pandemic: UNICEF

Top Content Trending