EU and Pfizer Renegotiate COVID-19 Vaccine Contract: Deal Reduces Doses and Spreads Out Delivery
The European Commission and Pfizer have renegotiated a COVID-19 vaccine contract that the EU entered into during the pandemic.
The contract was for 900 million doses, with the option for another 900 million, and was worth €21.5 billion.
The EU has reduced the total amount of doses from 450 million due this year to be delivered over the next four years, and Pfizer will spread out deliveries.
The Commission did not disclose the new total, but member countries can buy the remainder of the original 450 million doses.
The financial terms of the deal include a "cancellation fee," which increases the price per dose but reduces the overall price tag.
The negotiations lasted over a year and were marked by acrimony, with Central and Eastern European countries opposing the terms of the contract.
The negotiations have focused attention on Commission President Ursula von der Leyen's role in securing the original contract.
The EU has reduced the total amount of doses from 450 million due this year to be delivered over the next four years, and Pfizer will spread out deliveries.
The Commission did not disclose the new total, but member countries can buy the remainder of the original 450 million doses.
The financial terms of the deal include a "cancellation fee," which increases the price per dose but reduces the overall price tag.
The negotiations lasted over a year and were marked by acrimony, with Central and Eastern European countries opposing the terms of the contract.
The negotiations have focused attention on Commission President Ursula von der Leyen's role in securing the original contract.
