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Pfizer/BioNTech to Sell More COVID-19 Vaccine Doses to EU

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Pfizer (PFE - Free Report) /BioNTech (BNTX - Free Report) announced a deal with the European Commission to supply additional 200 million doses of Comirnaty, its COVID-19 vaccine, to 27 EU member states in 2021. The deal also gives an option to EC to request supply of an additional 100 million doses.

With the latest deal, the total number of doses to be delivered to the EU is 500 million, with delivery expected by the end of 2021. The 500 million doses will allow 250 million Europeans to be vaccinated. Reportedly, however, the EU has been hit by delays in deliveries of vaccine doses by Pfizer as well as AstraZeneca.

Pfizer/BioNTech had signed the first supply agreement with EC last year to supply 300 million doses. Of the new deal for 200 million doses, an estimated 75 million are expected to be supplied in the second quarter.

Pfizer has similar supply agreements with other governments around the world. In the United States, Pfizer/BioNTech have an agreement to supply 200 million vaccine doses of BNT162b2 with the United States with an option to purchase an additional 400 million doses in 2021. Last month, Pfizer and BioNTech signed an advance purchase agreement with COVAX to supply the latter with up to 40 million doses of the vaccine in 2021. Globally, the companies plan to manufacture two billion doses by the end of 2021.

BNT162b2/Comirnaty, a two-shot vaccine for COVID-19, is now approved for emergency/temporary use in more than 50 countries worldwide. The vaccine contributed $154 million in sales in the fourth quarter. The vaccine is expected to generate approximately $15 billion in sales in 2021.

Pfizer’s stock is down 4.1% this year against 1.5% increase for the industry.

 

 

BioNTech’s shares are up 39.3% this year so far compared with the industry’s increase of 10.3%.

 

 

Other than Pfizer/BioNTech, Moderna (MRNA - Free Report) and AstraZeneca (AZN - Free Report) /Oxford University have launched their COVID-19 vaccines in some countries.

J&Jhas also filed Conditional Marketing Authorisation Application (cMAA) with the European Medicines Agency and Emergency Use Authorization (EUA) with the FDA seeking approval for its single-dose COVID-19 vaccine candidate.

In a separate press release, Pfizer announced that it has initiated a pivotal phase II study on elranatamab, its investigational BCMA CD3-targeted bispecific antibody, in relapsed /refractory multiple myeloma

Both BioNTech and Pfizer have a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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