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

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

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03-10-2022 17:37:52 (UTC+7)

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    EUR/USD 0.9780 Sell  
    GBP/USD 1.1201 Sell  
    USD/JPY 145.07 ↑ Sell  
    AUD/USD 0.6449 Neutral  
    USD/CAD 1.3759 ↑ Sell  
    EUR/JPY 141.89 ↑ Sell  
    EUR/CHF 0.9671 ↑ Sell  
    Gold 1,672.35 ↑ Buy  
    Silver 19.387 ↑ Buy  
    Copper 3.3720 Neutral  
    Crude Oil WTI 82.66 ↑ Sell  
    Brent Oil 88.42 ↑ Sell  
    Natural Gas 6.622 ↑ Sell  
    US Coffee C 220.18 ↑ Sell  
    Euro Stoxx 50 3,290.65 ↑ Buy  
    S&P 500 3,585.62 ↑ Sell  
    DAX 12,029.34 Buy  
    FTSE 100 6,856.00 ↑ Buy  
    Hang Seng 17,079.51 ↑ Buy  
    Small Cap 2000 1,667.27 ↑ Sell  
    IBEX 35 7,352.50 ↑ Buy  
    BASF 40.167 ↑ Buy  
    Bayer 47.52 ↑ Sell  
    Allianz 160.04 ↑ Buy  
    Adidas 116.26 ↑ Buy  
    Lufthansa 5.579 ↑ Sell  
    Siemens AG 98.69 ↑ Buy  
    Deutsche Bank AG 7.396 ↑ Buy  
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