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Pfizer, BioNTech propose EU pays half for each cancelled Covid dose - FT

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Pfizer Inc and BioNTech's new proposal to the European Union, amid a glut of Covid-19 shots, includes a provision for member states to pay half price, or about €10, for each of about 70 million cancelled doses, the Financial Times has reported.

The revised contract would allow the EU to upgrade to newer vaccines tailored to any future Covid-19 variants, the report added, citing people close to negotiations.

In January, Reuters reported talks between the EU and the two drugmakers aimed at reducing up to 500 million Covid-19 vaccine doses Brussels has committed to buy this year in return for a higher price.

The move comes as the bloc plans to revamp laws governing the €133bn pharmaceuticals industry in the hope of reviving investment and boosting access to affordable drugs at a time when health budgets are drained by the costs of treating Covid-19.

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