EU could pay over $10 billion for Pfizer and CureVac vaccines 
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard
TUESDAY, MAY 24, 2022
TUESDAY, MAY 24, 2022
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
EU could pay over $10 billion for Pfizer and CureVac vaccines 

Coronavirus chronicle

Reuters
20 November, 2020, 12:30 pm
Last modified: 20 November, 2020, 12:53 pm

Related News

  • Tk100cr fund set up for mobile banking loans  
  • EU welcomes Dhaka’s 'openness' to intl election observers at next polls
  • EU brands firm on human rights in supply chain: Expert
  • Ukrainian PM says EU disburses 600m euros to Ukraine
  • EU ambassador to UK says bloc won't change mandate in Brexit talks

EU could pay over $10 billion for Pfizer and CureVac vaccines 

In July the US government agreed with Pfizer to pay $19.5 per dose for 100 million, with an option to buy a further 500 million under terms to be negotiated separately

Reuters
20 November, 2020, 12:30 pm
Last modified: 20 November, 2020, 12:53 pm
Photo: Collected.
Photo: Collected.

The European Union could pay more than $10 billion to secure hundreds of millions of doses of the vaccine candidates being developed by Pfizer-BioNTech and CureVac, an EU official involved in the talks told Reuters.

The bloc has agreed to pay 15.50 euros ($18.34) per dose for the Covid-19 vaccine candidate being developed by Pfizer and BioNTech, according to the official.

That would mean an overall price of up to 3.1 billion euros ($3.7 billion) for 200 million doses, rising to 4.65 billion euros if another optional 100 million doses are purchased under the deal, the official said.

The pricing information, previously undisclosed, confirms the EU is paying less per dose than the United States for an initial supply of that vaccine, as reported by Reuters last week.

The deal includes an insurance for EU countries to get compensation if the companies divert doses to the United States, according to the source, who requested anonymity due to the sensitivity of the matter.

The EU has separately agreed to pay 10 euros ($11.84) per dose for an initial supply of 225 million doses of the vaccine candidate from CureVac, a discount from the 12 euros the company set as the price for the shot, the official said.

The bloc struck the deal with CureVac this week to secure the supply of up to 405 million doses, of which 180 million are optional.

The official said CureVac had committed to starting deliveries by the end of March. It is unclear whether the additional 180 million doses would cost 10 or 12 euros each. Under the 10-euro price, though, the bloc would pay 4.05 billion euros for 405 million doses.

A spokesman for the European Commission, the bloc's executive body, declined to comment on terms and pricing of vaccine contracts because they are confidential.

Germany's BioNTech and CureVac declined to comment.

US drugmaker Pfizer said it and BioNTech were using a tiered pricing formula based on volume and delivery dates and that the EU deal represented the largest initial order of its vaccine candidate to date.

American price 

Pfizer and BioNTech said on Wednesday that final data showed their shot was 95% effective against Covid-19, and that they could start distributing shots before Christmas should they secure emergency authorisations..

In July the US government agreed with Pfizer to pay $19.5 per dose for 100 million, with an option to buy a further 500 million under terms to be negotiated separately.

The lower price partly reflects the financial support given by the European Union to BioNTech for the drug's development, a second EU official told Reuters last week.

Both the Pfizer-BioNTech and CureVac candidates are based on new messenger RNA (mRNA) technology and designed to be administered in two doses. That means, for the EU's Pfizer shot, it would cost 31 euros to inoculate one person.

To secure the supply of the Pfizer-BioNTech vaccine, the EU has made a non-refundable down payment. The amount has not been disclosed, but the official said the bloc had paid 700 million euros to the companies.

The agreed price of 15.50 euros per dose would only be paid by those European governments willing to buy the shot, and only if it is approved by the EU regulator as safe and effective.

In a sign of the global race to secure vaccines, the EU required Pfizer and BioNTech to accept a "breach of contract clause" if they diverted doses to the United States, the source said.

In that eventuality, EU states would be reimbursed 50% of the money they had paid, the official said. This clause was requested by the EU, the official added, despite the companies planning to produce the doses for Europe in Belgium and Germany.

Top News

EU / BioNTech-Pfizer vaccine / CureVac / Fund

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Corporates go cashless…tax cut on cards
    Corporates go cashless…tax cut on cards
  • A Russian army service member fires a howitzer during drills at the Kuzminsky range in the southern Rostov region, Russia January 26, 2022. REUTERS/Sergey Pivovarov/File Photo
    3 months of Ukraine war : Miscalculations, resistance and redirected focus
  • Rising revenue collection a false dawn, economists say
    Rising revenue collection a false dawn, economists say

MOST VIEWED

  • A medical worker takes a swab sample from a person for a nucleic acid test at a makeshift testing site, amid the coronavirus disease (Covid-19) outbreak, in Beijing, China May 23, 2022. REUTERS/Tingshu Wang
    Beijing urges millions to keep working from home amid Covid outbreak menace
  • Picture: PTI
    Saudi Arabia bans travel to India, 15 other countries over Covid outbreaks
  • A person in personal protective equipment (PPE) walks a dog at a resident community, as the second stage of a two-stage lockdown has been launched to curb the spread of the coronavirus disease (Covid-19) in Shanghai, China April 3, 2022. REUTERS/Aly Song
    Shanghai reopens some public transport, still on high Covid alert
  • Workers in protective suit spray disinfectant at a community, during the lockdown to curb the spread of the coronavirus disease (COVID-19) in Shanghai, China, April 5, 2022. REUTERS/Aly Song
    Dynamic zero-Covid approach: China's choice to safeguard lives, underpin growth
  • People wearing protective face masks walk on a street, following new cases of the coronavirus disease (Covid-19), in Shanghai, China August 25, 2021. REUTERS/Aly Song
    Shanghai district to require all shops to shut, residents to stay home
  • Photo: Courtesy
    Covax calls for urgent action to close vaccine equity gap

Related News

  • Tk100cr fund set up for mobile banking loans  
  • EU welcomes Dhaka’s 'openness' to intl election observers at next polls
  • EU brands firm on human rights in supply chain: Expert
  • Ukrainian PM says EU disburses 600m euros to Ukraine
  • EU ambassador to UK says bloc won't change mandate in Brexit talks

Features

A Russian army service member fires a howitzer during drills at the Kuzminsky range in the southern Rostov region, Russia January 26, 2022. REUTERS/Sergey Pivovarov/File Photo

3 months of Ukraine war : Miscalculations, resistance and redirected focus

35m | Analysis
Musk is denying the sexual harassment allegation that surfaced this week. Photo: Bloomberg

Elon Musk’s crazily banal week 

18h | Panorama
Asus Zenbook 14 Flip OLED: A touch of brilliance to your life

Asus Zenbook 14 Flip OLED: A touch of brilliance to your life

22h | Brands
Keep your phone by your side with this armband

Keep your phone by your side with this armband

19h | Brands

More Videos from TBS

How to maintain a good relationship with colleagues

How to maintain a good relationship with colleagues

20m | Videos
Why are Duranta TV shows popular?

Why are Duranta TV shows popular?

14h | Videos
Donbas is hell, says Zelenskiy

Donbas is hell, says Zelenskiy

15h | Videos
Threat of Monkeypox on the horizon

Threat of Monkeypox on the horizon

15h | Videos

Most Read

1
Tk100 for bike, Tk2,400 for bus to cross Padma Bridge
Bangladesh

Tk100 for bike, Tk2,400 for bus to cross Padma Bridge

2
A packet of US five-dollar bills is inspected at the Bureau of Engraving and Printing in Washington March 26, 2015. REUTERS/Gary Cameron
Banking

Dollar hits Tk100 mark in open market

3
Bangladesh at risk of losing ownership of Banglar Samriddhi
Bangladesh

Bangladesh at risk of losing ownership of Banglar Samriddhi

4
PK Halder: How a scamster rose from humble beginnings to a Tk11,000cr empire
Crime

PK Halder: How a scamster rose from humble beginnings to a Tk11,000cr empire

5
BSEC launches probe against Abul Khayer Hero and allies
Stocks

BSEC launches probe against Abul Khayer Hero and allies

6
The reception is a volumetric box-shaped room that has two glass walls on both the front and back ends and the other two walls are adorned with interior plants, wood and aluminium screens. Photo: Noor-A-Alam
Habitat

The United House: Living and working inside nature

The Business Standard
Top
  • Home
  • Entertainment
  • Sports
  • About Us
  • Bangladesh
  • International
  • Privacy Policy
  • Comment Policy
  • Contact Us
  • Economy
  • Sitemap
  • RSS

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net

Copyright © 2022 THE BUSINESS STANDARD All rights reserved. Technical Partner: RSI Lab