EU Pre-purchases 1.8 Billion Doses from Pfizer
US Pfizer and Moderna Prioritize Domestic Supply
South Korea Secures 750,000 Doses out of 33 Million
Elderly people aged 75 and over are receiving vaccinations at the COVID-19 vaccination center set up in Haenuri Town, Yangcheon-gu, Seoul on the 15th. Photo by Kang Jin-hyung aymsdream@
[Asia Economy Reporter Cho Hyun-ui] Amid disruptions in global vaccine supply due to blood clot side effect controversies surrounding the AstraZeneca and Janssen vaccines, the European Union (EU) and the United States have moved to sweep up Pfizer and Moderna vaccines. In particular, Europe has made advance purchases of 1.8 billion doses of the Pfizer vaccine over the next two years. South Korea, whose vaccine supply plan for this year is still uncertain, faces the risk of a vaccine supply cliff.
On the 14th (local time), the European Commission announced that 50 million doses of Pfizer's COVID-19 vaccine, originally scheduled for delivery in the fourth quarter, will be received in the second quarter. This increases the second-quarter supply from 200 million doses to 250 million doses, a 25% increase.
The EU is responding swiftly as vaccination plans have been disrupted due to AstraZeneca's supply delays and the U.S. health authorities' recommendation to suspend the Johnson & Johnson (J&J) subsidiary Janssen vaccine. Instead of renewing supply contracts with the two pharmaceutical companies involved in the blood clot controversy next year, the EU has begun negotiations to sign contracts to receive up to 1.8 billion doses of Pfizer vaccines from 2021 to 2023. Denmark has announced it will permanently suspend AstraZeneca vaccine administration, becoming the first country in the world to do so.
U.S.-based pharmaceutical companies Pfizer and Moderna are focusing primarily on domestic supply. Pfizer stated the day before that "due to increased vaccine production, we can supply 10% more vaccines to the U.S. by the end of May than the contracted amount." Moderna also said that plans to supply 100 million doses by the end of May and another 100 million doses by the end of July to the U.S. government are proceeding without issues.
As vaccine nationalism intensifies among Western countries, a crisis has emerged in domestic supply as well. South Korea has contracts for 13 million doses of Pfizer and 20 million doses of Moderna vaccines, but so far only 750,000 doses of Pfizer have been delivered domestically. Moderna's initial shipment, scheduled for the second quarter, has yet to be finalized.
With soaring demand for messenger RNA (mRNA)-based vaccines such as Pfizer and Moderna, Pfizer has sharply raised its supply price. According to the British Telegraph, Pfizer has requested the EU to increase the price per dose of the COVID-19 vaccine from the existing 12 euros (about 16,000 won) to 19.5 euros (about 26,000 won), a rise of over 60%.
On the same day, the U.S. Centers for Disease Control and Prevention (CDC) held an emergency meeting of the Advisory Committee on Immunization Practices (ACIP) but failed to decide on resuming Janssen vaccine administration. The decision on resuming Janssen vaccinations has been postponed for more than a week.
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