Bankinter | Pfizer and the EU have agreed to reduce the number of doses to be delivered by an undisclosed number and to delay the validity of the contract to 2026. The reason is the drop in demand for vaccines and booster doses and that several countries have destroyed vaccines when they exceeded their expiration date. The initial contract is from May 2021 and contemplated the acquisition of 900M doses and an option for another 900M until the end of 2023. It is estimated that only 450M doses have been acquired and the EU has not exercised the option.
Opinion of the analysis team: Negative news for Pfizer. There is a rumor that it could have been agreed to cut the doses pending delivery by 30%, that is, at 150 M, which would place the contract at 750M doses vs. the initial 900M. There are no details of the compensation that Pfizer will receive for the contract reduction.
2023-05-29 11:24:59
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