Europe pays less United States Pfizer coronavirus vaccine: The European Union has reached an agreement to pay less for Pfizer'S COVID-19 vaccine than the United States, Reuters reports in an exclusive.
Europe yesterday secured up to 300 million doses thanks to the agreement for the Advance Purchase of vaccines against COVID-19, the European strategy that the European Commission presented on August 14 to expedite the development, manufacture and deployment of effective and safe vaccines.
Under the European Union agreement, 27 European countries could buy 200 million doses, and they have a purchase option of another 100 million. The minister of health of Spain, Salvador Illa, already announced that our country would have 20 million doses of the vaccine thanks to this negotiation.
Although the terms of the agreement are not public, one of the officials involved in the negotiations has assured Reuters that each dose costs less than 19,50 dollars (about 16,5 euros), the price that the United States would have paid.
Without specifying the final label, the anonymous source has pointed out that the price is closer to 20 dollars than 10.
The head of strategy of the German BioNTech company, Ryan Richardson, has already warned at an online event organized by the Financial Times, that the price of the vaccine will be below "typical market rates", although he will take into account the financial risks that his private sector investors have incurred.
In that vein, Richardson suggested that the price could be different between countries and regions, although he did not put a final figure.
Europe pays less United States Pfizer coronavirus vaccine
"We have tried to follow a balanced approach that recognizes that innovation requires capital and investment, so we plan to price our vaccine well below typical market rates, reflecting the situation we are in and aiming to ensure broad access around the world," Richardson said.
The fact that the vaccine has a lower cost for the European Union could also reflect the public support that the vaccine has received.
The research has received 100 million euros for the development and manufacture of the vaccine from the European Investment Bank and 375 million euros from the German government, also to accelerate production.
However, in the United States, where vaccines are being driven by Operation Warp Speed, it has not had as many resources.
Richard Hatchett, director general of the Coalition for the promotion of innovations for Epidemic Preparedness (CEPI), also spoke at the FT event to point out that the candidate was the only one among the top 10 vaccine projects that had not received "substantial funding from the public sector".
Europe pays less United States Pfizer coronavirus vaccine
Pharmacists in the race for the vaccine, faced with the dilemma of fighting for a millionaire market while questioning their legitimacy of making a box in the middle of the pandemic
The week dawned with the news that the vaccine from Pfizer and BioNTech prevented contagion in 90% of cases, an efficiency greater than 50% that Dr. Anthony Fauci, leading expert in infectious diseases in the United States, had anticipated that it would be acceptable.
The news was celebrated by the world's population, days after coronavirus cases exceeded 50 million, and has also been celebrated by both the markets and the other pharmaceutical companies in the race for the coronavirus.
The Minister of Health, Salvador Illa, was quick to communicate that the European Union was finalizing an agreement with Pfizer with which Spain would correspond about 20 million doses of the promising vaccine, in case it finally gets approved.
The fever over getting Pfizer's vaccine has sparked debate over its price —especially since it was confirmed that the consortium will sell its vaccine at a different price depending on the region of marketing— and revealed that the future scenario will become complicated as governments fight to get doses for their population while pharmaceutical companies try to cash in.
With no officially approved vaccine, governments have reserved millions of doses of vaccines for different companies that are developing a candidate through advance purchase agreements.
"In exchange for the right to purchase a certain number of doses of vaccines in a given period, the commission would finance part of the initial costs of vaccine producers through an advance market commitment. The funding provided would be considered a payment on account of vaccines that member states actually buy, " explains the European Commission, which presented on August 14 its strategy to expedite the development, manufacture and deployment of effective and safe vaccines through the agreement for the Advance Purchase of vaccines against COVID-19.
"As the high cost and high failure rate make investing in a COVID-19 vaccine a high-risk decision for vaccine developers, these commitments will allow for investments that would otherwise probably not occur," he adds.
Since the beginning of the pandemic, it has been warned that this caused all vaccine reserves to end up in the hands of the richest countries. Activists from the United Nations and the International Red Cross have warned that such advance planning will leave poorer countries without supplies.
On the other hand, these same countries are granting large amounts of subsidies to companies to accelerate the development of a process that normally lasts 10 years and to scale up the production of a vaccine whose demand will be global.
This, together with the emergency situation that the world is experiencing, makes the legitimacy of pharmaceutical companies when it comes to benefiting from their vaccines is questioned.