Breaking News
Investing Pro 0
Free Webinar - What Is a Gold IRA? Fees, Advantages, and Risks - December 7, 2022 | 01:00PM EST Enroll Now

U.S. cutting global donations of Pfizer COVID shots as demand slows

Stock Markets Sep 22, 2022 06:06PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: Vials containing the Pfizer/BioNtech vaccine against the coronavirus disease (COVID-19) are displayed before being used at a mobile vaccine clinic, in Valparaiso, Chile, January 3, 2022. REUTERS/Rodrigo Garrido
 
PFE
+1.80%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Michael Erman

NEW YORK (Reuters) - The United States is significantly cutting back the number of Pfizer/BioNTech COVID-19 vaccine doses it will buy for donation to poorer nations this year, Pfizer (NYSE:PFE) said on Thursday, citing diminished demand for the shots in those countries.

Pfizer said it agreed to reduce the number of doses it will deliver by year end to 600 million, down from the billion-dose commitment the U.S. government made a year ago.

The United States will have an option to buy up to an additional 400 million shots for the program after this year.

The drugmaker said it would have sufficient supply to deliver the full billion doses under the U.S. commitment, but "we are seeing reduced demand in some low- and lower-middle-income countries due to barriers in administration and vaccine hesitancy."

The U.S. Department of Health and Human Services did not immediately respond to a request for comment. The revised terms of the contract were previously reported by Bloomberg.

Pfizer said it had already delivered 400 million vaccine doses in 79 countries under the U.S. government contract.

The vaccine doses were donated through the COVAX program, run by the World Health Organization and GAVI global vaccine alliance, which was intended to deliver COVID-19 shots to the world's poorer countries.

The program initially struggled to acquire enough vaccine to fulfill its mission, but improved output from manufacturers has led to a glut of doses in 2022.

COVAX has been negotiating since June with vaccine manufacturers to cut or slow deliveries of 400 million to 600 million vaccine doses from its own contracts.

U.S. cutting global donations of Pfizer COVID shots as demand slows
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email