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.