BioNTech SE (BNTX)

[DewDiligence]

PFE/BNTX, EU come_to_terms_on COVID-vaccine orders:

https://finance.yahoo.com/news/2-eu-pfizer-biontech-announce-084015609.html

The European Union and drugmakers Pfizer and BioNTech said on Friday they had reached a deal to amend a COVID-19 vaccine contract, cutting the number the EU must buy and pushing the delivery deadline to 2026.

…a source with knowledge of the negotiations told Reuters that the contract change cuts by about a third the number of those remaining doses the EU is on the hook to buy [i.e. a reduction of ~300M doses].

…The EU member states will have to pay a fee for each cancelled dose, the source said, while declining to say what the fee would be. The companies and the Commission also declined to comment on this.

The amended contract specifies that the EU will continue to have access to vaccines adapted to new variants as soon as they are authorised by regulators.