Commercial Amidst COVID vaccine supply cuts to Europe, Moderna expands...

Amidst COVID vaccine supply cuts to Europe, Moderna expands to China


As global demand for the COVID-19 vaccine plummets, the European Union has decided to alter its agreement with Pfizer and BioNTech to reduce the purchase of their Comiranity vaccine. EU sources claim that a reduction of roughly 35% will take place under the altered agreement.

According to the original deal signed between the three parties in 2021, Pfizer and BioNTech had agreed to provide the bloc with a total number of 900 million COVID doses. Of these, the first 450 million were expected to be delivered by the end of 2022, while the latter half was to be provided by the end of this year.

The new contract not only changes the number of doses to be supplied now, but delivery dates have also been extended. Only a few details about the contract have been made public. Still, according to a press release issued by the company, the amended version of the agreement will allow the companies to deliver doses annually through 2026.

This was preceded by the EU first delaying shipments of jabs since the decreasing demand from last year had already increased stockpiles in some countries to the extent that they had to get rid of expiring doses.

The agreement is meant to provide EU member states with more flexibility while still ensuring that they will have supply for any new vaccines needed for developing variants of the disease.

“The agreement includes an aggregate volume reduction, providing additional flexibility for EU member states,” the companies wrote in the press release. “The EC [European Commission] will maintain access to future adapted COVID-19 vaccines and the ability to donate doses.”

So far, the EU has donated over 520 million doses, including approximately 494 million that have been delivered previously.

Not all member states of the European Union are bound by the new contract, however. A statement issued by the EU states that some members have chosen to opt out of the new deal.

In contrast to Moderna and BioNTech’s exit from the EU, Moderna, another premier producer of COVID-19 vaccines, has been able to expand its base in China after its CEO, Stephane Bancel, visited Shanghai last month.

Reports claim that in order to advance sales of its mRNA shot in China, Moderna has established offices in the country under the banner of Moderna Biotech Ltd. Shanghai has been selected as the base for the new unit.

Despite its growth in China, when it comes to the EU, even Moderna too had to retreat soon after Pfizer and BioNTech did.

+ posts

Latest news

Revvity introduces advanced preclinical imaging tech for scientists to make breakthroughs

Revvity, Inc. is ushering in a new era of innovation in the realm of preclinical research by...

European Commission Approves Updated Pfizer-BioNTech Vaccine for Omicron XBB.1.5 Variant

The European Commission has recently achieved a significant milestone in the ongoing battle against COVID-19 in preparation...

NICE gives Chiesi’s Elfabrio go ahead

Chiesi has recently garnered a favorable recommendation from the National Institute for Health and Care Excellence (NICE)...

Must read

Surrounded by controversy, FDA approves Biogen’s Alzheimer’s drug Aduhelm

In the middle of the debate about the Alzheimer’s drug approval, the United States FDA has authorized Aduhelm

You might also likeRELATED
Recommended to you