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

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

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Brussels: The European Union could pay more than $10 billion (7.5 billion pounds) 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.

Officials said the group has agreed to pay 15.50 euros ($18.34) for each dose of the COVID-19 vaccine candidate developed by Pfizer PFE.N and BioNTech BNTX.O.

The official said that this means that the total price of 200 million doses will be as high as 3.1 billion euros (3.7 billion US dollars), and if another 100 million doses are purchased under the agreement, the total price will rise to 4.65 billion euros.

According to a Reuters report last week, previously undisclosed pricing information confirmed that the European Union paid less per dose for the initial supply of this vaccine than the United States.

According to sources, the transaction includes insurance for EU countries, and if these companies transfer doses to the United States, the EU countries can receive compensation. Because of the sensitivity of the matter, they requested anonymity.

The EU has separately agreed to pay 10 euros ($11.84) per dose for the initial supply of 225 million doses of vaccine candidates from CureVac CVAC.O, which is cheaper than the 12-euro injection price set by the company. Said.

The group reached an agreement with CureVac this week to ensure the supply of up to 405 million doses, of which 180 million doses 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.

U.S. 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.

“We are not disclosing further details of this agreement,” it added.

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