Pfizer Offers South Africa Discounted COVID-19 Vaccines

Pfizer and BioNTech SE offered to supply South Africa with COVID-19 vaccine at a discounted $10 a dose, according to Bloomberg. The price was worked out according to South Africa’s classification as a middle-income country.

• The price offered to South Africa is half of what the drugmakers are charging in the U.S. despite the president’s office terming it prohibitive.
• The vaccine price in South Africa also considers that Pfizer and BioNTech are running trials in the country.
• South Africa’s government is coming under pressure over its failure to secure any bilateral vaccine-supply agreements with pharmaceutical companies.
• The country expects vaccines of about 10% of its population in the second quarter even as its COVID-19 cases hit 1.1 million with 30,000 deaths, the most of any African nation.
• South African president said Pfizer is one of at least three companies it is in negotiations for the supply of vaccine shots.

Pfizer stock is currently declining as BioNTech gains. PFE: NYSE is down 1.28%, BNTX: NASDAQ is up 7.30%