Header Ads

Drugmakers are under pressure for vaccine doses

Coronavirus Daily
Bloomberg

Drugmakers under pressure for doses

Pfizer Inc. and BioNTech SE now reign as champions in the race to clear a coronavirus vaccine on both sides of the Atlantic. On Friday, the partners received an emergency-use authorization from U.S. regulators, bringing the nation a much-needed tool as cases continue to skyrocket. Shipments to states of 2.9 million doses are expected imminently.

The U.S. wants more—and wants it fast.

Operation Warp Speed, the government effort to accelerate development and snap up Covid-19 shots, has purchased 100 million doses of the two-dose regimen. But it's currently in discussions with Pfizer to exercise options for additional supply. The negotiations ensued simultaneously as reports emerged last week that the U.S. had actually passed on an offer for more doses of the vaccine.

The Covid-19 vaccine created by Pfizer Inc. and BioNTech SE.

Photographer: Owen Humphreys/PA Wire

Health and Human Services Secretary Alex Azar said when the U.S. first clinched 100 million doses, Pfizer "refused to commit to any other production or delivery by a time certain." Come October, Pfizer still wouldn't share a date by which it could deliver more doses, Azar added. The Trump administration has threatened that it could invoke the Defense Production Act to ensure the American people get shots ASAP. One problem? Pfizer and BioNTech have other agreements to fulfill.

BioNTech has assured that the pace of production is moving briskly. Next year, the companies will be able to meet their 1.3 billion dose objective, according to Chief Business Officer and Chief Commercial Officer Sean Marett. They've got sufficient raw materials, and are onboarding new production capacity. It's a massive undertaking:

"This is a new technology, there does not exist a manufacturing network," Marett said. "We are building it."

Government purchasers large and small are making demands: "Everybody wants all their doses on January 2nd of next year," the BioNTech executive said in an interview. "That's not practical."

Output will increase throughout 2021, and both Pfizer and BioNTech are committed to the dosing schedules they've agreed to with the U.S., as well as with other countries, Marett said.

"Both companies want to provide the vaccines fairly to all of those countries that want it," he said. "We have allocation based on such principles. We won't deviate from that."--Riley Griffin

Listen up

The Doctor Behind the Vaccine Deals

At the center of Operation Warp Speed, the Trump administration's program to accelerate the development of Covid treatments and vaccines, is a man named Moncef Slaoui. Dr. Slaoui is chief scientific adviser for the Operation, and is trying to leverage decades of experience in the pharmaceutical industry to secure deals that can help curb the pandemic.

Photographer: Patricia Suzara

Photographer: Patricia Suzara

 

What you should read

How Germany Lost Its Way on Covid
Angela Merkel appealed to Germans to rein in Christmas celebrations.

South Korea Is Facing Tightest Restrictions

 

A record 950 cases were reported Saturday.
Finance Capitals Imperiled by Work From Home 
Status of New York, London and Hong Kong under pressure.
New Yorkers Fleeing Virus Arrive in Palm Beach
Young families have kids and nannies in tow.
UAE Looks to Domestic Tourism for Revenue
PR push calls it "the most beautiful winter in the world."

Know someone else who would like this newsletter? Have them sign up here.

Have any questions, concerns, or news tips on Covid-19 news? Get in touch or help us cover the story.

Like this newsletter? Subscribe for unlimited access to trusted, data-based journalism in 120 countries around the world and gain expert analysis from exclusive daily newsletters, The Bloomberg Open and The Bloomberg Close.

No comments